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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In an interview on NBC's Meet The Press, White House National Security Adviser Sullivan declined to comment on whether the U.S. has ruled out conducting strikes inside Iran. This statement has implications for geopolitical tensions and could impact financial markets.

Portfolio Pulse from Charles Gross

February 04, 2024 | 3:24 pm

US military has initiated retaliatory airstrikes in Syria following a drone attack, according to officials. This action represents a significant escalation in US military involvement in the region.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 8:31 pm

Yemen's Houthi rebels launched ballistic missiles targeting Israel's Eilat, marking a significant escalation in regional tensions. The event could impact global oil markets and security-related assets.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 7:41 pm

Secretary of State Blinken is scheduled to visit Saudi Arabia, Egypt, Qatar, Israel, and the West Bank from February 4-8, according to the State Department. This diplomatic tour could influence U.S. foreign policy and relations in the Middle East.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 7:07 pm

The latest U.S. Baker Hughes Oil Rig Count report shows no change in oil rigs, remaining at 117, while the gas rig count decreased by 2 to 499 from last week.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 6:28 pm

The Biden administration has been strategically buying crude oil to replenish the Strategic Petroleum Reserve (SPR) as prices fell, capitalizing on lower prices to recover stocks depleted in 2022 after a release aimed at stabilizing the market post-Russia's invasion of Ukraine. The Department of Energy (DOE) reported purchasing 20.13 million barrels at an average price of $76.12, with plans to buy more. This move, alongside coordinated international releases, helped reduce gasoline prices significantly. However, the success of this strategy in the long term depends on various factors, including geopolitical developments and domestic policies.

Portfolio Pulse from Neil Dennis

February 02, 2024 | 6:09 pm

The latest jobs report, showing stronger-than-expected employment growth, has dampened hopes for a Fed rate cut, potentially upsetting stock market bulls. However, blowout earnings from Amazon (AMZN) and Meta Platforms (META), including META's initiation of a dividend and a $50B buyback, have bolstered their market cap by $275B, overshadowing concerns from the jobs report. Early trade money flows are positive for AMZN, META, Microsoft (MSFT), and NVIDIA (NVDA), neutral for Alphabet (GOOG), and negative for Apple (AAPL) and Tesla (TSLA). The S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) saw extremely positive early money flows turn negative post-jobs report. Oil is down on ceasefire deal prospects in the Middle East, impacting the United States Oil ETF (USO). Bitcoin (BTC) rises with tech stock sentiment.

Portfolio Pulse from The Arora Report

February 02, 2024 | 5:32 pm

U.S. stock markets closed higher on February 1st, driven by major earnings reports anticipation and positive employment data. Meta Platforms (META) announced its first dividend, leading to a stock rise, while Amazon (AMZN) shares increased after earnings. Apple (AAPL) shares fell due to underperforming China sales. Asian markets were mixed, with Australia hitting a record high. European markets climbed, and commodities saw mixed movements with crude oil dipping below $75 and gold trading above $2,070.

Portfolio Pulse from Akanksha Bakshi

February 02, 2024 | 12:16 pm

A Hamas official informed Reuters that the current stage of negotiation is neither at a standstill nor has it concluded in an agreement. This statement indicates ongoing discussions but without a definitive outcome yet.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:25 pm

A Hamas official informed Reuters that they have received the Paris truce proposal but have not yet responded to any parties as it is still under review.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:25 pm

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