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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

The U.S. Energy Information Administration (EIA) has projected a decrease in total shale oil production across all regions in November by approximately 51,000 barrels per day, reaching 9.553 million barrels per day. This is a larger decrease compared to the 45,000 barrels per day fall in October.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 6:01 pm

The article discusses the geopolitical tensions between the US, Iran, and Israel, and their impact on oil prices. It also highlights the Biden administration's move to tighten export controls to prevent China from acquiring advanced technologies, especially in semiconductors. This has implications for semiconductor companies with significant sales in China. The article also mentions positive and negative money flows in various tech companies and ETFs. Finally, it discusses the SEC's decision not to appeal in the Grayscale case, which could potentially lead to Grayscale Bitcoin Trust becoming an ETF.

Portfolio Pulse from The Arora Report

October 16, 2023 | 3:03 pm

The UN Security Council is set to vote on rival draft resolutions on Israel and Gaza, according to Reuters citing diplomats. The outcome of the vote could potentially impact the geopolitical landscape in the Middle East.

Portfolio Pulse from Charles Gross

October 16, 2023 | 11:44 am

US stocks are expected to start the week strong due to earnings optimism. The third-quarter earnings season begins this week with companies like Tesla, Netflix, Procter & Gamble, and Johnson & Johnson set to release their earnings. S&P 500 earnings could increase by 0.4% in the third quarter, marking a potential inflection after four straight quarters of negative earnings growth. However, tech stocks are at risk due to looming earnings and concerns about their stretched valuation. The S&P 500 has completed the first year of the bull market with a gain of 21.6%, and the second year could see average returns of 13-14%.

Portfolio Pulse from Shanthi Rexaline

October 16, 2023 | 11:34 am

On Friday, October 13, the U.S. stock markets closed mixed due to declining consumer confidence and Middle East tensions, despite positive earnings from major U.S. banks. Energy, utilities, and consumer staples sectors led the gains in the S&P500. Asian markets closed lower on Monday, with investors cautious ahead of crucial inflation data. European markets were mixed, while commodities saw crude oil trading higher and gold trading lower. U.S. futures were mixed, and the U.S. Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

October 16, 2023 | 10:52 am

President Biden has stated that the threat of terrorism in the United States has increased due to unrest in the Middle East. This could potentially impact the performance of certain ETFs.

Portfolio Pulse from Charles Gross

October 15, 2023 | 11:19 pm

President Biden has stated that deploying US troops in the Middle East war is not necessary as Israel has 'one of the finest fighting forces'. This could potentially impact the performance of certain ETFs.

Portfolio Pulse from Charles Gross

October 15, 2023 | 11:17 pm

The escalating Israel-Hamas conflict, rising inflation, and surging oil prices have shaken global markets. The conflict could disrupt global oil supplies, as the Middle East accounts for about one-third of global oil production. In the US, inflation figures exceeded expectations, with the Producer Price Index surging 2.2% YoY and the Consumer Price Index inflation rising by 3.7% YoY. This has led to a spike in 30-year mortgage rates and a dip in consumer sentiment. Despite this, the Fed signals another rate hike is still possible. M&A activity picked up with Exxon Mobil acquiring Pioneer Resources and Microsoft purchasing Activision Blizzard. The week also saw strong Q3 earnings from major banks.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 8:33 pm

The Ecuadorian government has appointed Reinaldo Armijos as the new manager for state oil firm PetroEcuador. This announcement comes just days ahead of the country's presidential election.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:21 pm

President Biden has stated that the US is ensuring Israel has the necessary resources to respond to attacks, and addressing the humanitarian crisis in Gaza is a priority. He also assured that efforts to bring missing Americans home will continue.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 7:34 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.