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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Oil prices dropped over 6% due to eased supply fears, while U.S. markets closed mixed with the Nasdaq rising. Tesla's positive sales forecast boosted tech stocks, and Nvidia briefly surpassed Apple in market value. Most S&P 500 sectors declined, except for information technology and communication services. Asian and European markets showed gains, and U.S. futures indicated a positive opening.

Portfolio Pulse from Akanksha Bakshi

October 28, 2024 | 11:06 am

Oil ETFs experienced a significant decline following Israel's military strikes on Iran, with ProShares Ultra Bloomberg Crude Oil (UCO) falling 8.41%, United States Oil Fund LP (USO) dropping 4.69%, SPDR S&P Oil & Gas Exploration & Production ETF (XOP) decreasing 1.81%, and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETNs (OILU) down 4.54%. Despite the geopolitical tensions, Iran's oil industry remains unaffected.

Portfolio Pulse from Pooja Rajkumari

October 28, 2024 | 9:00 am

Israel has launched strikes against Iranian military targets in retaliation for Iran's missile attack on October 1. This escalation in Middle East tensions has led to a rise in oil prices, with the United States Oil Fund (USO) seeing a 1.2% increase in after-hours trading.

Portfolio Pulse from Navdeep Yadav

October 26, 2024 | 1:05 am

The IDF has announced that Israel is conducting precise military strikes on Iranian targets in response to continuous attacks from Iran. The strikes are a defensive measure to protect Israel from attacks on multiple fronts.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 11:51 pm

Tesla's strong earnings have significantly boosted its market cap, potentially aiding the NASDAQ's breakout. Positive money flows are observed in major tech stocks and ETFs like QQQ and SPY, while Apple sees negative flows. Investors are advised to maintain a balanced protection band strategy.

Portfolio Pulse from The Arora Report

October 25, 2024 | 10:42 pm

The latest Baker Hughes report shows a decrease in U.S. oil rigs by 2, an increase in natural gas rigs by 2, and an unchanged total rig count at 585.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 5:02 pm

U.S. markets closed mixed with gains in Nasdaq and S&P 500 driven by Tesla's surge. Treasury yields eased, but sentiment was cautious due to mixed corporate results. U.S. jobless claims fell, and PMI data showed improvement. Asian markets were mixed, while European markets saw slight gains. Oil prices increased, while gold and silver declined.

Portfolio Pulse from Akanksha Bakshi

October 25, 2024 | 10:47 am

Oil prices fell as diplomatic efforts for a Gaza cease-fire progress, with US and Israeli officials planning talks in Doha. The United States Oil Fund (USO) dropped 1%, while the VanEck Israel ETF (ISRA) rose 0.3%.

Portfolio Pulse from Piero Cingari

October 24, 2024 | 7:23 pm

Tesla's strong earnings report has positively impacted its stock and is also benefiting Nvidia, as Tesla is a major customer. Rising yields are causing some market selling, but Tesla's results are counterbalancing this effect. Positive money flows are observed in major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

October 24, 2024 | 4:21 pm

U.S. markets closed lower due to rising Treasury yields affecting mega-cap stocks. McDonald's and Coca-Cola were impacted by corporate news. Crude oil prices rose over 2% due to geopolitical tensions, while gold also advanced. European markets gained as investors focused on earnings and economic data.

Portfolio Pulse from Akanksha Bakshi

October 24, 2024 | 10:44 am

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.