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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Qatar's Prime Minister expressed hope to present a framework for an Israel-Hamas deal to Hamas, encouraging constructive engagement. He also noted that potential U.S. retaliation for an attack on U.S. soldiers could affect hostage negotiations and regional security.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:19 pm

Qatar's Prime Minister has indicated that significant progress was made in laying the groundwork for a potential resolution regarding hostages, which could eventually lead to a permanent ceasefire.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:18 pm

A Trafigura-operated oil tanker caught fire after a Houthi strike near Yemen, according to Bloomberg. The incident could potentially disrupt oil shipments in the region, raising concerns over supply security. The United States Oil Fund (USO), an ETF that tracks the price of oil, may be affected by this event due to potential impacts on oil prices.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 8:20 pm

Yemen's Houthi group has claimed responsibility for an operation targeting the British oil tanker Marlin Luanda in the Gulf of Aden, according to Reuters. The incident could potentially affect oil supply routes and market perceptions of risk in the region.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:05 pm

The latest Baker Hughes rig count report shows an increase in oil rigs by 2 and a decrease in gas rigs by 1. This data is a key indicator of future production levels and can influence oil prices and related stocks.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 6:05 pm

John Kirby, a U.S. official, stated that the U.S. wants China to pressure Iran to stop supplying weapons to Yemeni rebels. National Security Advisor Jake Sullivan is set to meet with Chinese official Wang Yi to discuss the issue and its impact on Red Sea shipping. Sullivan is traveling to Thailand for talks with senior Chinese officials, as reported by Dow Jones citing The Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 4:42 pm

The US and UK are preparing to impose new sanctions on the Houthi rebels in response to their recent attacks in the Red Sea. These sanctions are aimed at curbing the rebels' aggressive actions which threaten the security of a key global shipping route. The impact of these sanctions on the global oil market and related stocks could be significant, as the Red Sea is a crucial transit point for oil shipments.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:29 pm

Yemen's Houthi rebels claim to have carried out a missile attack against several U.S. military ships in the Gulf of Aden and Bab al Mandab, with a direct hit on one U.S. military vessel.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 8:46 pm

The EIA reported a draw in weekly distillates stocks of 1.417 million barrels, contrasting with the estimated build of 0.348 million barrels and the prior week's build of 2.370 million barrels.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 3:30 pm

USA crude oil inventories experienced a significant draw of 9.233 million barrels, surpassing the estimated draw of 2.150 million barrels and the prior draw of 2.492 million barrels. This indicates a higher than expected decrease in oil supply.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 3:30 pm

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