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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OPEC has maintained its 2023 and 2024 global oil-demand growth forecasts at 2.4 million barrels per day (B/D) and 2.2 million B/D respectively, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

October 12, 2023 | 11:23 am

According to secondary sources cited by OPEC, crude output rose by 273,000 barrels per day in September, reaching 27.75 million barrels per day.

Portfolio Pulse from Charles Gross

October 12, 2023 | 11:18 am

US stock markets closed in the green on Wednesday, with the majority of sectors in the S&P 500 ending positively. Asian markets also closed higher on Thursday, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Index all seeing gains. European markets were also up, with the STOXX 600, Germany's DAX, France's CAC, and the UK's FTSE 100 all trading higher. Commodities were mixed, with crude oil and gold trading higher, but natural gas sliding. US futures were up, while the US Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

October 12, 2023 | 11:05 am

The U.S. State Department has raised the travel advisory for Israel and the West Bank to Level 3, advising citizens to reconsider travel due to terrorism and civil unrest. The travel advisory for Gaza remains at Level 4, advising against all travel due to terrorism, civil unrest, and armed conflict.

Portfolio Pulse from Charles Gross

October 11, 2023 | 9:41 pm

U.S. President Biden has issued a warning to Iran, stating 'Be Careful'. The specifics of the warning were not detailed in the news.