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 article discusses a request made to President Biden not to attack nuclear or oil facilities in Iran, with Israeli Prime Minister Netanyahu responding that it is a historic opportunity. This geopolitical tension could impact energy markets and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:51 pm

U.S. markets closed higher due to Federal Reserve minutes indicating support for a rate cut. Tech stocks were mixed, with Alphabet down 1.5% due to antitrust concerns. Crude oil prices surged on supply risks, while U.S. futures and the dollar index showed slight declines.

Portfolio Pulse from Akanksha Bakshi

October 10, 2024 | 10:26 am

Oil prices, tracked by the United States Oil Fund (NYSE:USO), fell over 1% to $73 per barrel due to weaker demand from China and geopolitical tensions in the Middle East. Concerns over potential disruptions in Iranian oil production could lead to a $10-$20 increase in oil prices.

Portfolio Pulse from Piero Cingari

October 09, 2024 | 6:29 pm

President Biden had a direct and productive 30-minute call with Israel's Prime Minister Netanyahu, focusing on the recent Iran attack. The discussion highlights ongoing geopolitical tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 6:27 pm

The S&P 500 reached a new all-time high, driven by declining oil prices and anticipation of the Federal Reserve's meeting minutes. Cruise line stocks surged due to lower oil prices, while Alphabet faced potential asset divestiture. Pfizer rose after a significant investment by Starboard Value.

Portfolio Pulse from Piero Cingari

October 09, 2024 | 4:03 pm

The Department of Justice has proposed a potential breakup of Google due to monopolistic practices, but the market has shown little reaction. Meanwhile, Nvidia's stock is moving positively due to its AI Summit, but faces resistance at $140. Money flows are positive for Amazon, Microsoft, and Nvidia, while neutral for Meta, Apple, and Google. Tesla sees negative flows. Mixed flows are observed in SPY and QQQ ETFs.

Portfolio Pulse from The Arora Report

October 09, 2024 | 3:33 pm

President Biden has engaged in discussions with Israel's Prime Minister Netanyahu amid rising tensions with Iran. This geopolitical development could have implications for markets, particularly those related to Israel and energy sectors.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 3:02 pm

The EIA reported a larger-than-expected draw in distillate stocks, with a draw of 3.124 million barrels compared to the estimated 2.300 million barrels. This is also a significant increase from the prior draw of 1.284 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:30 pm

The latest data shows that US crude oil inventories have increased by 5.810 million barrels, significantly higher than the expected 2.000 million barrels and the previous build of 3.889 million barrels. This unexpected rise in crude oil inventories could impact oil prices and related markets.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:30 pm

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