Streetbeat News

USO

United States Oil Fund, LP

http://www.unitedstatesoilfund.com

Industry

Asset Management

USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels.

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U.S. Central Command forces shot down a UAV over the Gulf of Aden on Feb. 1 at approximately 5:00 A.M., with no injuries or damage reported.

Portfolio Pulse from Charles Gross

February 01, 2024 | 7:19 pm

A Qatar official informed Reuters that there is currently no ceasefire agreement in place for Gaza. Although Hamas has received the ceasefire proposal positively, it has yet to respond. The situation remains tense and uncertain.

Portfolio Pulse from Charles Gross

February 01, 2024 | 6:50 pm

A post by Al Jazeera Arabic on X (formerly Twitter) suggesting that Israel agreed to a ceasefire has been deleted. The deletion of this post could impact perceptions and reactions in the financial markets, particularly affecting assets related to geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 6:14 pm

Israel has agreed to a ceasefire proposal, with initial positive confirmation from Hamas, according to a Qatari Foreign Ministry spokesman. This development could impact related US-listed assets.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 6:03 pm

Qatar has announced that Israel has agreed to a ceasefire proposal, potentially signaling an end to recent hostilities. This development could have implications for regional stability and global markets, particularly in energy and geopolitical risk sectors.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 5:50 pm

Saudi Arabia is currently considering an invitation to join the BRICS group, as reported by Reuters. The country has not yet provided a response to the invitation.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:07 pm

A shipment of 10,000 barrels of Russian oil entered the U.S. through a loophole, despite sanctions, and was processed by PBF Energy in Delaware. Oil prices were influenced by Federal Reserve comments and global production data. Shell reported strong Q4 earnings, with other oil majors set to report soon. The United States Oil Fund saw a price adjustment in response to these developments.

Portfolio Pulse from Neil Dennis

February 01, 2024 | 2:17 pm

Reuters reported that OPEC+ will review in early March the possibility of extending the 2.2 million barrels per day (B/D) of voluntary oil production cuts, which are set to expire at the end of Q1. This decision is based on a source's information.

Portfolio Pulse from Charles Gross

February 01, 2024 | 12:17 pm

Following the Federal Reserve's decision to keep interest rates unchanged at 5.25%-5.50%, U.S. stock markets closed lower, impacting global markets. The Dow Jones, S&P 500, and Nasdaq saw declines, with communication services and technology sectors hit hardest. Asian and European markets also dipped, while commodities like gold and silver fell. U.S. futures showed slight gains in early trading.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 12:08 pm

Oil prices have risen in early 2024 due to escalating tensions in the Middle East and Red Sea regions, with Nymex WTI up nearly 8% and Brent crude up 6%. The United States Oil Fund (USO) has seen a 9.2% increase. Despite conflicts and attacks on shipping, oil prices had previously fallen due to weak demand and sufficient supply. Iran's tensions with the U.S. and its involvement in Red Sea shipping attacks pose risks to oil flows. Saudi Aramco is planning a share sale to raise at least $10 billion, following a halt in oil expansion plans. Shares of ExxonMobil, Chevron, and ConocoPhillips fell on Wednesday.

Portfolio Pulse from Neil Dennis

January 31, 2024 | 5:51 pm

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