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 G7 has expressed deep concern over the Middle East situation, condemning Iran's attack on Israel and calling for a ceasefire in Gaza. They reaffirm commitment to Israel's security and urge regional players to act responsibly.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:59 pm

Israel's Ambassador to the UN expressed a strong stance against Iran, emphasizing Israel's determination and the availability of multiple options to address Iran's nuclear capabilities. The ambassador questioned the Western world's patience with Iran's nuclear ambitions and suggested that if diplomacy fails, all options must be considered.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:41 pm

The Islamic Resistance in Iraq has claimed responsibility for an attack on a target in southern Israel. This development could have geopolitical implications, potentially affecting markets and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 4:28 pm

The article discusses the current market dynamics, highlighting the cognitive dissonance among investors who are buying both stocks and bonds. It mentions the high demand for Nvidia chips, the geopolitical tensions involving Israel and Iran, and the impact of these factors on various ETFs and stocks. The article also provides insights into money flows in major tech stocks and ETFs, and advises on investment strategies considering the current economic and geopolitical climate.

Portfolio Pulse from The Arora Report

October 03, 2024 | 3:39 pm

Oil prices are rising after reports that President Biden mentioned the US is considering supporting Israel in striking Iran's oil facilities.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 2:38 pm

The market summary highlights a selloff in Chinese stocks after a period of stimulus-related strength, better-than-expected ISM Services PMI data, and a rise in crude oil prices due to discussions about potential Israeli strikes on Iranian oil facilities.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 2:28 pm

Egypt plans to use corn flour in subsidized bread starting April to reduce wheat imports. The government is also considering using sorghum for 20% of the flour in breadmaking, dropping a previous plan to increase the wheat flour extraction rate.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 2:22 pm

President Biden is reportedly discussing the possibility of Israel striking Iranian oil facilities. This development could have significant geopolitical and economic implications, potentially affecting oil prices and related markets.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 2:15 pm

U.S. markets closed slightly higher with tech stocks gaining, driven by Nvidia, while Tesla shares fell. Middle East tensions and upcoming U.S. labor data kept investors cautious. Oil prices rose due to geopolitical concerns, impacting global markets.

Portfolio Pulse from Akanksha Bakshi

October 03, 2024 | 10:41 am

President Biden's administration purchased 6 million barrels of crude oil to refill the Strategic Petroleum Reserve at an average price of $68.56 per barrel. This move is part of a strategy to stabilize the oil market, following the release of over 100 million barrels in 2022. The United States Oil Fund (USO) and the Energy Select Sector SPDR Fund (XLE) experienced fluctuations amid geopolitical tensions.

Portfolio Pulse from Aaron Bry

October 02, 2024 | 8:35 pm

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