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 geopolitical tensions between Israel and Iran have led to a risk-off sentiment in the markets, with concerns about oil supply disruptions. Major stock indices have slightly declined, while defense and oil-related ETFs have seen gains. The situation could impact inflation and central bank policies.

Portfolio Pulse from Anthony Noto

October 02, 2024 | 6:55 pm

OPEC has refuted claims made in a Wall Street Journal report that suggested Saudi Arabia indicated oil prices could drop to $50 if OPEC+ does not adhere to output curbs. OPEC labeled the report as 'wholly inaccurate and misleading.'

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 5:28 pm

President Biden announced upcoming sanctions on Iran, stating that Iran is significantly off course. He does not support an attack on Iran's nuclear sites and plans to discuss the situation with Netanyahu soon.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:35 pm

Iran's President Pezeshkian stated that Iran does not seek war but will respond if Israel acts against them. This geopolitical tension could impact markets, particularly those related to energy and defense sectors.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:31 pm

President Biden, along with G7 leaders, expressed full solidarity with Israel and condemned Iran's attack. They discussed coordinating a response, including potential new sanctions against Iran.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:27 pm

The Saudi oil minister has warned that oil prices could fall to $50 per barrel if OPEC+ members do not adhere to production limits. This statement is seen as a threat of a potential price war to maintain market share.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 3:58 pm

The article discusses the potential investment opportunities in missile defense stocks, particularly highlighting RTX Corp (NYSE:RTX) due to its involvement in missile defense systems like the Iron Dome. The article also mentions the iShares US Aerospace & Defense ETF (BATS:ITA) as a recommended ETF for defense investments. Additionally, it touches on the strong employment data from Automatic Data Processing Inc (NASDAQ:ADP) and a buying stampede in Hong Kong stocks, with a focus on the iShares China Large-Cap ETF (NYSE:FXI).

Portfolio Pulse from The Arora Report

October 02, 2024 | 3:46 pm

An Israeli airstrike on Syria's Damascus resulted in at least two deaths and two injuries, according to Syrian state TV, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 3:23 pm

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