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. Justice Department is investigating potential violations of sanctions on Russia's energy exports, focusing on Murtaza Lakhani, CEO of Mercantile & Maritime Group. The probe also includes Lakhani's ties to Rosneft Oil. The U.S. government has established Task Force KleptoCapture to reinforce oil sanctions against Russia. The surge in oil prices has raised concerns about Russia's ability to profit from its oil sales, prompting renewed focus on enforcing these sanctions.

Portfolio Pulse from Vandana Singh

October 09, 2023 | 4:43 pm

Israeli Foreign Minister has announced that over 100 people have been taken captive by Hamas. The news may have implications for ETFs related to Israel and the Middle East.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:41 pm

The White House is actively working to determine the whereabouts of missing U.S. citizens, according to a statement by White House's Sullivan. No specific details or context were provided in the news.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:38 pm

White House National Security Advisor, Sullivan, has been in constant communication with his Israeli counterparts throughout the weekend. They are working with regional partners to warn anyone who might seek to take advantage of the current situation.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:37 pm

The U.S. Army Secretary has stated that they will need support from Congress to best support both Israel and Ukraine. This could potentially impact the defense budget and subsequently, related stocks.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:03 pm

The ongoing conflict in the Middle East, particularly the bloodshed in Israel and Gaza, is having broad implications for investors. The SPDR S&P 500 ETF Trust (NYSE:SPY) has pulled back to the bottom band of the top support zone due to the conflict. The stock market is assuming that the conflict will be contained to Gaza, but investors are urged to consider the potential for a wider conflict. The Arora Report suggests that Iran may have masterminded the attack on Israel, and if Iran were to block the Strait of Hormuz, oil prices could skyrocket. The conflict has also disrupted Biden's security plan and his reelection strategy. In early trade, money flows are negative in several major tech companies, including Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

October 09, 2023 | 3:33 pm

Al Quds Brigades of Palestinian Islamic Jihad has claimed responsibility for an operation at the Lebanon-Israel border, according to Reuters citing Telegram. The news may have implications for EIS, SPY, and USO.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 3:06 pm

The Israeli Defense Forces (IDF) announced on CNN that they are currently striking Lebanese territory. No specific reasons or targets were mentioned.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 2:46 pm

UK Foreign Minister Cleverly commented on the Israel attacks, stating that nobody wants the conflict to spread to other parts of the region. He did not provide numbers on British casualties and refused to speculate.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 2:45 pm

Mexican President has called for the United Nations to assemble all its members to seek a resolution to the conflict in Israel-Palestine. No direct impact on US-listed companies or ETFs is mentioned.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 2:27 pm

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