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 U.S. has vetoed a UN Security Council resolution on Israel and Gaza. The U.S. envoy to the UN stated that they are actively involved in diplomatic efforts on the ground.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:32 pm

USA gasoline inventories have seen a draw of 2.371M, which is higher than the estimated draw of 1.097M and the prior draw of 1.313M.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 2:31 pm

The Energy Information Administration (EIA) reported a draw of 3.185 million in weekly distillates stocks, which is higher than the estimated draw of 1.360 million and the prior draw of 1.837 million.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:30 pm

USA Crude Oil Inventories reported a draw of 4.491 million barrels, significantly higher than the estimated draw of 0.300 million barrels and a reversal from the prior build of 10.176 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:30 pm

Saudi Arabia has advised its citizens based in Lebanon to leave the country immediately, according to the Embassy in Beirut. The news was reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:27 pm

Celularity has announced that its commercial biomaterial products have received product classification from the Saudi Food and Drug Authority (SFDA). This classification establishes a clear regulatory pathway for the importation of Celularity's products into Saudi Arabia.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:05 pm

US stocks are set for a weak opening due to uncertainty surrounding interest rates and inflation. Mixed earnings reports, including Tesla's Q3 print, are affecting market sentiment. Other factors include the spike in oil prices, sluggish Chinese economic growth, Middle East tensions, and the ongoing House Speaker election stalemate. The S&P 500 Index may not move above the 4,800 range, according to Comerica's Chief Investment Officer. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF declined. Several companies, including Tesla and Netflix, are due to release their quarterly results.

Portfolio Pulse from Shanthi Rexaline

October 18, 2023 | 11:40 am

President Biden, in a meeting with Israeli Prime Minister Netanyahu, suggested that the recent conflict was initiated by 'the other team', not Israel, according to NBC News.

Portfolio Pulse from Charles Gross

October 18, 2023 | 9:36 am

The American Petroleum Institute (API) reported a weekly crude oil stock draw of 4.383 million barrels, which is more than the estimated draw of 1.267 million barrels. This is a significant change from the prior week's build of 12.940 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:35 pm

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