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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Russian President Putin has accused the U.S. ruling elites of benefiting from global instability, particularly in the Middle East. He suggests that these elites do not desire lasting peace in the region, but rather chaos.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 6:27 pm

Israeli Prime Minister Benjamin Netanyahu has stated that a cease-fire would be a surrender for Israel. This statement could potentially impact the geopolitical situation in the Middle East, which may indirectly affect the performance of certain ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:37 pm

The World Bank warns that the ongoing conflict in the Middle East could potentially drive oil prices up to $157 per barrel. The report outlines three scenarios: a small disruption could lead to a 3-13% price increase, a medium disruption could result in a 21-35% price increase, and a large disruption could cause a 56-75% price surge. The United States Oil Fund (NYSE:USO) has shown little appreciation since the start of the conflict.

Portfolio Pulse from Piero Cingari

October 30, 2023 | 4:51 pm

BP is considering forming joint ventures to enhance its U.S. shale operations. The move is aimed at increasing production and reducing costs.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 4:12 pm

A Russian airport has been reopened after an anti-Israel riot. The incident may have implications for ETFs such as EIS, SPY, USO, and VGK.

Portfolio Pulse from Charles Gross

October 30, 2023 | 11:49 am

US stocks are expected to bounce back from oversold levels as more earnings and the Federal Reserve’s rate decision are anticipated. The Fed is likely to maintain the status quo, with a 98.6% probability. Key earnings reports from Apple, Qualcomm, and Advanced Micro Devices are expected to take center stage. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF rose in premarket trading. Stellantis and General Motors rose in premarket trading after reaching tentative deals with the United Auto Workers union.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 11:22 am

On October 27th, U.S. stock markets closed mixed with Nasdaq moving higher due to the strength of tech stocks like Amazon, Apple, and Meta Platforms. The energy sector saw the most significant drop among the S&P 500 sectors. Asian markets were mixed with Japan's Nikkei 225 and Australia's S&P/ASX 200 down, while China's Shanghai Composite and Hong Kong's Hang Seng Index were up. European markets were up, and commodities saw crude oil trading lower and gold trading higher.

Portfolio Pulse from Akanksha Bakshi

October 30, 2023 | 10:58 am

Iran's Foreign Minister has stated in a CNN interview that Iran does not want the Israel-Hamas war to spread and dismissed claims that Iran is linked to the Hamas attack as baseless.

Portfolio Pulse from Charles Gross

October 29, 2023 | 2:34 pm

The White House's Kirby stated that U.S. military operations in Syria and Iraq are aimed at disrupting and preventing future attacks. The U.S. is not interested in conflict with Iran, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 6:22 pm

The total count of U.S. oil and natural gas rigs has increased by one to 625 for the week ending October 27. This could potentially impact the prices of related ETFs such as UNG and USO.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 5:11 pm

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