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 latest USA API Weekly Crude Oil Stock report indicated a build of 0.939 million barrels, contrasting with the estimated draw of 2.233 million barrels and the previous week's draw of 2.349 million barrels.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:32 pm

White House's Kirby announced on CNBC that the U.S and its partners are committed to protecting ships in the Red Sea and emphasized that attacks on these ships must cease.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 7:12 pm

Reuters reports a statement from the Houthi group affirming their support for the Palestinian people and calling for an end to Israel's aggression and the lifting of the siege on the Gaza Strip.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:51 pm

The Houthi group has issued a statement clarifying that they do not pose a threat to any country, specifying that their targets are limited to Israeli ships or vessels en route to Israeli ports. This statement may influence market perceptions regarding regional security and the potential risk to shipping routes in the area.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:50 pm

The U.S. State Department has expressed that it would welcome China's constructive involvement in efforts to prevent Houthi attacks on international shipping routes. This statement suggests a potential collaboration or diplomatic engagement between the U.S. and China to ensure the safety of maritime trade lanes that are critical for global commerce and energy supplies.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:09 pm

The article discusses the current state of the stock market, highlighting the strong performance of semiconductors as shown by the VanEck Semiconductor ETF (SMH) and the importance of market mechanics that have been driving the market higher, which are expected to end by December 29, 2023. It suggests that investors may need to take steps such as raising hedges, cash, and taking profits before the year ends. The article also notes strong housing starts, positive early trade money flows in major tech stocks and ETFs, and buying activity in gold and oil by the momo crowd. The Arora Report, known for its accurate market calls, suggests maintaining good long-term positions while holding cash or Treasury bills and adjusting hedge levels.

Portfolio Pulse from The Arora Report

December 19, 2023 | 3:23 pm

The Chair of an Israeli Ports Company has stated that the recent Houthi attacks will not lead to a shipping embargo on Israel. This announcement comes as a reassurance to the shipping industry and investors concerned about the potential disruption of maritime trade routes affecting Israel.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:20 pm

The EIA Rig Productivity Report indicates that U.S. total shale regions oil production for January is expected to decrease by approximately 1,000 barrels per day (BPD) to 9.692 million BPD, compared to a 2,000 BPD decline in December.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:14 pm

The EIA Rig Productivity Report forecasts an increase in new well oil production per rig across major regions: Bakken is expected to produce 1,838 barrels per day (BPD) compared to 1,818 BPD a month ago, Permian is forecasted at 1,332 BPD up from 1,319 BPD, and Eagle Ford at 1,629 BPD, an increase from 1,590 BPD.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:13 pm

The EIA Rig Productivity Report indicates an increase in U.S. Permian Basin oil production for January, with a rise of 4,600 barrels per day (BPD), reaching a total of 5.986 million BPD. This is a slight decrease from the 5,200 BPD rise seen in December.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:09 pm

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