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 US and European governments are urging Israel to delay its planned ground invasion of Gaza to allow for secret negotiations via Qatar for the release of hostages held by Hamas. The negotiations are delicate and may not succeed, but there are indications that Hamas might agree to release some of the civilians captured in an October 7 raid without demanding a prisoner exchange from Israel.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:22 pm

The Palestinian Red Crescent has received a warning from Israeli forces to immediately evacuate Gaza's Al Quds Hospital. No US-listed companies or ETFs are directly mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:07 pm

Russian authorities are considering raising the gas-production tax, also known as the MET, to finance a return to full subsidies for oil refiners. The move is aimed at supporting the domestic fuel market without straining the country's budget.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:06 pm

The U.S. Baker Hughes Oil Rig Count has increased by 1 from last week to 502, and the Gas Rig Count has also increased by 1 from last week to 118.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:05 pm

The Arora Report suggests that the 40-year bull market in bonds and stocks has ended due to the end of four megatrends. Fed Chair Powell and President Biden confirmed the end of two of these megatrends. The report also mentions positive early trade money flows in Meta Platforms Inc and Microsoft Corp, and negative flows in Apple Inc, Amazon.com, Inc., Alphabet Inc Class C, NVIDIA Corp, Tesla Inc, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust Series 1. The report also mentions buying trends in gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

October 20, 2023 | 3:36 pm

The market sentiment remains negative due to mixed earnings and rate worries. Crude oil continues to rise, questioning the U.S. government's decision to buy oil. The Nasdaq Composite and the S&P 500 indices closed lower for the third straight session. Netflix shares rallied following its quarterly results. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF slipped in premarket trading. Stocks of Knight-Swift Transportation soared following their quarterly results, while SolarEdge Technologies plunged after warning of a Q3 shortfall.

Portfolio Pulse from Shanthi Rexaline

October 20, 2023 | 11:26 am

Global markets are showing signs of pessimism with Asia and Europe markets dipping, crude oil prices touching $90, and gold hovering near $2,000. The U.S. stock markets ended lower on October 19 due to rising treasury yields. The Dow Jones, S&P 500, and Nasdaq Composite all declined. Asian markets also closed lower, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Index all experiencing declines. European markets were also down, with the STOXX 600, DAX, CAC, and FTSE 100 all trading lower.

Portfolio Pulse from Akanksha Bakshi

October 20, 2023 | 11:09 am

The U.S. Department of Energy’s Office of Petroleum Reserve announced plans to purchase up to 6 million barrels of oil for the Strategic Petroleum Reserve (SPR), with deliveries in December 2023 and January 2024. The purchases will be made when oil prices are below $79 per barrel. The announcement follows the Biden administration's sale of about 180 million barrels of oil from the SPR in 2022. The United States Oil Fund, LP (NYSE:USO), an ETF, rose 2.30% to $81.68 on Thursday.

Portfolio Pulse from Shanthi Rexaline

October 20, 2023 | 6:32 am

The Israeli military has been given the 'green light' to enter Gaza, potentially leading to a ground invasion. This has caused a rise in the CBOE Volatility Index, a drop in the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust, and an increase in the SPDR Gold Trust and the United States Oil Fund. The iShares 20+ Year Treasury ETF has also fallen. The US State Department has issued a global travel warning due to increased tensions.

Portfolio Pulse from Piero Cingari

October 19, 2023 | 8:37 pm

The US government is planning to purchase 6 million barrels of oil for its reserve by January 2023, according to Reuters. This move could potentially impact the oil market and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:30 pm

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