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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Iraq plans to reduce its oil production to 3.85M-3.9M barrels per day in September, according to a source. This decision could impact global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 2:45 pm

The U.S. economy showed strong growth with a 3% GDP increase in Q2, boosting the U.S. dollar, oil prices, and tech stocks. Defensive assets like bonds and the yen fell as expectations for large rate cuts eased.

Portfolio Pulse from Piero Cingari

August 29, 2024 | 2:21 pm

Libyan Oil Crescent ports have halted export operations, as confirmed by engineers to Reuters. This disruption could impact global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 2:11 pm

U.S. stocks ended lower as investors awaited Nvidia's quarterly report, with Nvidia shares dipping 2.1%. The Dow, S&P 500, and Nasdaq all closed lower. In Asia, markets were mixed, while European markets advanced. The U.S. dollar gained, and gold hit a new high at $2,555.

Portfolio Pulse from Akanksha Bakshi

August 29, 2024 | 11:20 am

The article discusses the potential impact of Nvidia's upcoming earnings on its stock and the broader market, highlighting the importance of Nvidia's guidance on Blackwell shipments. It also notes the current money flows in major tech stocks and ETFs, and the recent sell-off in Bitcoin due to various factors.

Portfolio Pulse from The Arora Report

August 28, 2024 | 4:35 pm

Oil prices are declining due to supply disruptions in Libya and weak demand in China. Additionally, a smaller-than-expected draw in crude inventories and a build in distillate stocks are contributing to the downward pressure.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 2:42 pm

The EIA reported a build in distillate stocks of 0.275 million barrels, contrary to the expected draw of 1.100 million barrels. This follows a prior draw of 3.312 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 2:30 pm

The latest report on USA crude oil inventories shows a draw of 0.846 million barrels, which is less than the expected draw of 2.700 million barrels and significantly less than the prior draw of 4.649 million barrels. This indicates a smaller reduction in crude oil supply than anticipated.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 2:30 pm

U.S. stocks rose with the S&P 500 and Dow Jones hitting record highs, driven by anticipation of Nvidia's earnings. Asian markets were mixed, while European markets gained. Crude oil prices fell due to concerns over Chinese demand. The U.S. dollar index rose as markets awaited potential interest rate cuts.

Portfolio Pulse from Akanksha Bakshi

August 28, 2024 | 10:38 am

The American Petroleum Institute (API) reported a weekly crude oil stock draw of 3.4 million barrels, which is larger than the expected 3 million barrel draw. This indicates a higher demand or lower supply than anticipated.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 8:39 pm

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