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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Oil prices have surged due to escalating tensions in the Middle East, particularly between Israel and Iran, marking the strongest five-day rally in two years. The United States Oil Fund (NYSE:USO) has seen crude oil prices rise above $75 a barrel. Concerns about potential disruptions in oil supply from the region, especially the Strait of Hormuz, are driving this increase.

Portfolio Pulse from Piero Cingari

October 07, 2024 | 3:42 pm

Lebanon's Hezbollah has claimed responsibility for launching a missile salvo targeting the area north of Israel's Haifa. This development could have geopolitical implications, potentially affecting markets and specific ETFs related to the region.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 3:25 pm

The Israeli military reported intercepting a missile fired from Yemen. This event highlights ongoing geopolitical tensions in the region, which could impact global markets, particularly those related to defense and energy sectors.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:55 pm

A surface-to-surface missile was fired from Yemen towards central Israel, according to the Israeli military. This development could have geopolitical implications and may affect market sentiment.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:48 pm

Russian President Vladimir Putin is scheduled to meet with Iran's President on October 11, as reported by Reuters citing IFAX. This meeting could have geopolitical implications, potentially affecting global markets and specific sectors.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:32 pm

U.S. markets closed higher with the Dow reaching a record high, driven by a strong jobs report. Most S&P 500 sectors gained, while real estate and utilities fell. Crude oil prices rose by 2.5%. Asian markets showed mixed results, and European markets were mostly stable. U.S. futures indicated a decline.

Portfolio Pulse from Akanksha Bakshi

October 07, 2024 | 10:56 am

The U.S. military conducted strikes on 15 Houthi targets in Yemen, which could impact oil prices due to potential instability in the region.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:30 pm

President Biden announced that sanctions on Iran are currently under consideration. This development could impact global oil markets and related financial instruments.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:19 pm

President Biden stated that Israel has not yet decided on a response to Iran's strike and suggested considering alternatives to striking oil fields. He emphasized the strong support his administration has provided to Israel and mentioned ongoing communication between U.S. and Israeli teams.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:17 pm

The U.S. military has conducted strikes against multiple Houthi targets in Yemen, as reported by Reuters citing sources. This action could have implications for geopolitical stability and energy markets.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:13 pm

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