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

Russian President Vladimir Putin has announced that Russia is ready for talks with parties involved in the Israel-Palestine conflict, according to Reuters.

Portfolio Pulse from Charles Gross

October 13, 2023 | 9:18 am

The Israel-Hamas conflict could impact global oil prices, depending on Iran's involvement. Iran, a backer of Hamas, controls the Strait of Hormuz, through which 20-30% of global oil inventory passes. Increased sanctions on Iran could raise oil prices, affecting US inflation. Rising oil prices could benefit US-based oil extraction companies like Exxon Mobil, Chevron, and Shell, and ETFs like the United States Oil Fund LP, the iShares U.S. Oil & Gas Exploration & Production ETF, and the ProShares Ultra Bloomberg Crude Oil. However, a spike in inflation could negatively impact tech companies like Apple, Amazon, and Meta, and consumer discretionary companies like Tesla, General Motors, Ford, and Volkswagen.

Portfolio Pulse from Natan Ponieman

October 12, 2023 | 9:46 pm

The White House's Kirby stated that there is no specific evidence implicating Iran in the recent attack on Israel, but broadly they are considered complicit. This statement could potentially impact the geopolitical landscape and related assets.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:37 pm

A source familiar with the matter has revealed that Deputy Treasury Secretary Wally Adeyemo told House Democrats that the US has a quiet agreement with Qatar not to move any of the $6B in unfrozen money to Iran.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:27 pm

According to a tweet by Fox Business reporter Ed Lawrence, Deputy Treasury Secretary Adeyemo has reportedly told House Democrats that the US has an agreement with Qatar not to move any of the $6B in unfrozen money to Iran.

Portfolio Pulse from Charles Gross

October 12, 2023 | 5:25 pm

The White House's Kirby has stated that the number of American hostages held by Hamas is still believed to be less than a handful. No specific impact on EIS, SPY, or USO is mentioned.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:18 pm

The White House has reported that 27 Americans have died following a Hamas attack, with 14 still unaccounted for. Starting Friday, the U.S. government will arrange charter flights from Israel to Europe.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:16 pm

U.S. Secretary of State, Blinken, has stated that none of the $6 billion Iran fund has been accessed.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:42 pm

The stock market is being tested by hotter consumer inflation, with the Consumer Price Index (CPI) coming in worse than expected. The SPDR S&P 500 ETF Trust (NYSE:SPY) ran up in anticipation of better than expected Producer Price Index (PPI) and CPI, but both came in hotter than expected. Positive money flows are seen in Apple Inc (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc Class C (NASDAQ:GOOG), Meta Platforms Inc (NASDAQ:META), and NVIDIA Corp (NASDAQ:NVDA), while negative flows are seen in Microsoft Corp (NASDAQ:MSFT) and Tesla Inc (NASDAQ:TSLA). Mixed flows are seen in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1 (NASDAQ:QQQ). Gold is attempting to break the psychological resistance at $1900, with the most popular ETF for gold being SPDR Gold Trust (NYSE:GLD).

Portfolio Pulse from The Arora Report

October 12, 2023 | 3:27 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.