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 escalating Israel-Hamas conflict has led to a 5% spike in crude oil prices, potentially breaking its two-day losing streak. The geopolitical tensions in the Middle East have also caused US stock futures to fall. Energy stocks like Exxon Mobil Corp., ConocoPhillips, and Chevron Corp. could be impacted when trading resumes. The United States Oil Fund, LP ended Friday’s session up 0.23% at $74.16.

Portfolio Pulse from Shanthi Rexaline

October 09, 2023 | 6:56 am

November crude futures have risen by 3.5% due to concerns over the Israel-Hamas conflict. This geopolitical tension could potentially disrupt oil supply, leading to higher prices.

Portfolio Pulse from Charles Gross

October 08, 2023 | 10:39 pm

The Wall Street Journal reported that Iran assisted in planning an attack on Israel over several weeks, according to senior members of Hamas and Hezbollah. This geopolitical tension could potentially impact the performance of certain ETFs.

Portfolio Pulse from Charles Gross

October 08, 2023 | 9:30 pm

CNN reports that Hamas has taken hostages and prisoners of war, according to an Israel Defense Forces spokesperson. The news may have implications for ETFs such as EIS, SPY, and USO.

Portfolio Pulse from Charles Gross

October 07, 2023 | 3:15 pm

At least 70 people have been reported dead following a Hamas attack on Israel, according to CNN. The news may have implications for certain ETFs.

Portfolio Pulse from Charles Gross

October 07, 2023 | 3:13 pm

The U.S. Baker Hughes Oil Rig Count has decreased by 5 from last week to 497, while the Gas Rig Count has increased by 2 from last week to 118.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 5:04 pm

The stock market is expected to be influenced by the upcoming inflation data and earnings. The jobs report is strong, but average hourly earnings are lower than expected. Exxon Mobil Corp is rumored to be in talks to buy Pioneer Natural Resources Co for $60B. Money flows are negative in Apple Inc, Amazon.com, Inc., Alphabet Inc Class C, Meta Platforms Inc, Microsoft Corp, and NVIDIA Corp, and very negative in Tesla Inc. Money flows are also negative in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

October 06, 2023 | 2:45 pm

US stocks are set to open higher in the final trading session of the week, with the September jobs report being the main focus. The upcoming earnings season and corporate profit growth are also in focus. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) both saw gains in premarket trading. Tesla (NASDAQ:TSLA) fell over 1% in premarket trading after reducing prices of its Model 3, Y EVs in the U.S. Levi Strauss & Co. (NYSE:LEVI) also fell about 2% following the release of its quarterly results. Pioneer Natural Resources Company (NYSE:PXD) jumped over 11% following a report that it is nearing a $60 billion deal to be bought by Exxon Mobil Corp. (NYSE:XOM).

Portfolio Pulse from Shanthi Rexaline

October 06, 2023 | 11:11 am

On October 5, US stock indexes closed lower with mixed performances across sectors. Asian markets showed mixed results, with Japan's Nikkei 225 and Australia's S&P/ASX 200 closing lower and higher respectively, while China's markets were closed. European markets were up, with the STOXX 600, DAX, CAC, and FTSE 100 all trading higher. Commodities saw crude oil trading lower, while natural gas, gold, silver, and copper were up. US futures were up, and the US Dollar Index rose slightly.

Portfolio Pulse from Akanksha Bakshi

October 06, 2023 | 10:47 am

President Biden's security plan for the Middle East, which could lead to increased oil production from Saudi Arabia, has caused the biggest fall in oil prices in a year. This is generally positive for the stock market, except for oil stocks. Walmart has reported that people on weight loss drugs are buying less food, which could negatively impact many med-tech, restaurant, alcohol, and food and beverage stocks. Money flows are positive for Tesla and NVIDIA, but negative for Apple, Amazon, Alphabet, Meta Platforms, and Microsoft. Money flows are mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

October 05, 2023 | 3:15 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.