Streetbeat News

Security

SPY

USO

The U.S. Department of Energy is soliciting up to 3 million barrels of oil for the Strategic Petroleum Reserve (SPR) to replenish supplies used during previous disruptions. This move is part of the Biden administration's efforts to ensure energy security and support domestic energy producers. The SPR, the world's largest supply of emergency crude oil, was established to mitigate the impact of disruptions in oil supply.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 4:08 pm

SPY

USO

The White House, through spokesperson John Kirby, has announced that the U.S. is currently assessing the impacts of recent airstrikes on Iran-backed Houthi forces. The situation is being closely monitored to understand the repercussions of these military actions.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 3:44 pm

SPY

USO

White House spokesperson Kirby announced that recent airstrikes targeted Houthi capabilities to store, launch, and guide missiles or drones. Pentagon Chief Austin closely monitored the situation and was fully engaged in the decision-making process regarding the airstrikes, as reported by MSNBC.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 3:43 pm

SPY

USO

The U.S. has imposed counterterrorism sanctions on four oil tankers as part of its efforts to combat terrorism. The sanctions are aimed at disrupting the financial networks that support terrorist activities. The specific details of the sanctions, such as the names of the tankers or the regions they operate in, were not provided in the summary. However, the sanctions could potentially affect the oil market and related ETFs like SPY and USO, which track sectors including energy and oil.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 3:16 pm

601899.SS

LUG.TO

Zijin Mining Group is investing $97 million in Solaris Resources to advance its Warintza copper project in Ecuador. Zijin will purchase 28.5 million shares at a 14% premium, becoming the second-largest shareholder with about 15% ownership. The investment will help Solaris leverage Zijin's expertise and financial capacity. Despite security concerns in Ecuador, mining operations continue with enhanced measures, and no foreign companies have left the country.

Portfolio Pulse from Stjepan Kalinic

January 12, 2024 | 2:59 pm

AEM

CDE

DRD

GFI

GOLD

HMY

IAG

KGC

SBSW

WPM

Shares of precious metals companies have increased due to their status as safe haven assets amidst macroeconomic uncertainty following military actions by the US and UK against Houthi targets in Yemen.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:54 pm

EWU

SPY

USO

The internationally recognized government of Yemen has stated that a U.S./U.K military operation is a response to the Houthi rebels' ongoing targeting of international shipping in the Red Sea. The government blames the Houthis for turning Yemen into a battleground, according to a statement cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:32 pm

USO

The United Arab Emirates (UAE) has expressed concern over the impact of attacks on Red Sea shipping routes. These routes are crucial for global trade and any disruption could have significant consequences on the flow of goods and energy prices. The article suggests that such concerns could affect oil prices and mentions the United States Oil Fund (USO) in this context.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:21 pm

INTC

NVDA

The U.S. House China Panel has summoned the CEOs of Intel, Nvidia, and Micron to testify. The panel is likely to discuss issues related to technology and security concerns with China. The outcome of this testimony could impact the companies' operations and their approach to the Chinese market.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:14 pm

CVX

USO

XLE

XOM

Oil prices surged over 4% due to increased Middle East tensions after U.S.-led airstrikes on Houthi rebels in Yemen. Brent crude reached $80.50 a barrel, and WTI hit $75.02. The United States Oil Fund (USO) rose 3.5% in pre-market trade. The conflict raises concerns about oil flow through the critical Strait of Hormuz. Oil stocks like BP, Chevron, and ExxonMobil saw pre-market gains, as did the Energy Select Sector SPDR Fund (XLE). Refined products like gasoline and heating oil also moved higher.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 1:25 pm