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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The U.S. Baker Hughes oil rig count increased by 2 to 481, while the natural gas rig count decreased by 1. The total rig count is now 586, up from 585 previously.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 5:02 pm

ENI's CEO emphasizes the importance of nuclear power for Europe's decarbonization and notes limited pressure from OPEC on oil cuts. The CEO also highlights U.S. investment funds' support for ENI's 'Satellite' strategy and the rapid progress in spinning off businesses.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 3:31 pm

The article discusses the potential of humanoid robots as a major product, highlighting Tesla's recent event and AMD's AI event. Tesla's stock experienced a sell-off post-event, despite impressive presentations. AMD also faced a sell-the-news reaction. The article also touches on macroeconomic indicators and earnings reports, with a focus on JPMorgan Chase. Money flows in major tech stocks and ETFs are analyzed, and investment strategies are suggested.

Portfolio Pulse from The Arora Report

October 11, 2024 | 3:27 pm

U.S. markets closed lower due to conflicting economic data, with inflation higher than expected and rising jobless claims. This has led to speculation of a potential Federal Reserve rate cut in November. Most S&P 500 sectors saw losses, while energy and materials stocks rose. Asian and European markets showed mixed results, with notable declines in China's indices. Commodities saw a dip in crude oil prices, while gold rose above $2,650.

Portfolio Pulse from Akanksha Bakshi

October 11, 2024 | 11:40 am

Crude oil prices surged over 3% due to Middle East tensions and Hurricane Milton. WTI crude, tracked by USO, rose to $76 per barrel. Israel's military actions in Lebanon and potential threats to Gulf oil facilities are key factors. Gulf nations urge restraint to prevent escalation.

Portfolio Pulse from Piero Cingari

October 10, 2024 | 8:56 pm

Iran has issued secret warnings to U.S. allies in the Middle East, threatening retaliation if they assist Israel in any attacks on Iran. This has led Arab states to inform the U.S. that they will not support any attack on Iran.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 7:49 pm

The article discusses the impact of hotter-than-expected inflation data on the stock market, particularly affecting Nvidia and AI stocks. Despite the negative CPI data, higher jobless claims provide some cushion. Nvidia experiences selling pressure, which extends to other AI stocks. Tesla's stock is also in focus due to its robotaxi day, with potential volatility based on CEO Elon Musk's announcements. Money flows are mixed among major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

October 10, 2024 | 4:12 pm

A new meeting of the 'Nuclear Five' is set to take place in New York soon, as reported by Russian Deputy Foreign Minister. This development could impact global markets, particularly those related to geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 2:12 pm

Gulf states are lobbying Washington to prevent Israel from attacking Iran's oilfields, as reported by Reuters. This geopolitical tension could impact oil prices and related markets.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:09 pm

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