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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

The production of distillate fuel has seen a draw of 251K, compared to an expected build of 2K. This could potentially impact the price of oil and related ETFs such as USO.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:31 pm

Crude oil inventories have seen a draw of 600K, which is less than the expected draw of 2.348M.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:30 pm

US stock futures indicate a shaky start on Wednesday due to mixed tech earnings and anticipation of the Federal Reserve's rate decision. Positive consumer confidence data led to a mostly higher close on Tuesday, with the Dow Industrials extending its winning streak to 12 sessions. Analyst John Lynch expects the Fed to adopt a 'wait-and-see' approach on additional rate increases. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Snap shares plummeted about 20% after issuing lackluster guidance, while Microsoft fell about 3.70% and Alphabet rose 6.64% in reaction to their respective quarterly results.

Portfolio Pulse from Shanthi Rexaline

July 26, 2023 | 10:48 am

The American Petroleum Institute (API) reported a build of 1.319 million barrels in the weekly crude stock, against an estimated draw of 1.969 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 8:34 pm

US stocks are expected to start the week positively, driven by anticipation of tech earnings. The market has already factored in a 25 basis point hike from the Federal Reserve. Last week saw positive market performance from blue-chip and small-cap stocks, while tech stocks experienced turbulence due to earnings reports from Tesla and Netflix. The upcoming week is expected to be dictated by tech earnings, with Microsoft, Alphabet, and Meta Platforms being key. In premarket trading, the SPDR S&P 500 ETF Trust rose 0.24% and the Invesco QQQ ETF gained 0.29%.

Portfolio Pulse from Shanthi Rexaline

July 24, 2023 | 10:35 am

The U.S. Baker Hughes Oil Rig Count has decreased by 7 to 530, while the Gas Rig Count has dropped by 6 to 669.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 5:04 pm

Major fossil fuel producers, including Saudi Arabia and Russia, have opposed a proposal to triple G20 countries' renewable energy capacity by 2030, according to three sources.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 2:25 pm

UAE Energy Minister has expressed no concerns about oil demand, but sees investment in capacity as the biggest challenge. He also mentioned that there is a mechanism to monitor Russian oil output, which will be developed with OPEC HQ. He believes that the current OPEC+ actions are sufficient for the oil market.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 1:23 pm

Stock futures suggest a positive start to the week's final trading session, reflecting optimism for positive earnings reports from AI-levered big techs. However, caution is expected due to the upcoming Fed meeting and its commentary on the rate outlook. The tech slump on Thursday, driven by negative reactions to earnings from Tesla, Taiwan Semiconductor Manufacturing Company, and Netflix, dragged the Nasdaq Composite Index lower. The Dow Industrials continued to push higher, closing at nearly an 18-month high. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. Tesla rebounded from Thursday's slide, while Xirius SM Holdings fell after its rally on Thursday.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 11:19 am

The U.S. Senate has voted to block sales of U.S. oil reserves to China. This decision could potentially impact the global oil market and the related ETFs.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 6:21 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.