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 Pentagon has not confirmed the presence of North Korean soldiers in Russia's Kursk region but believes there is movement towards the area. An estimated 10,000 soldiers are deployed to train in Eastern Russia, with some moving closer to Ukraine.

Portfolio Pulse from Benzinga Newsdesk

October 28, 2024 | 3:21 pm

The Nasdaq 100's performance this week hinges on earnings reports from five major tech companies: Apple, Amazon, Alphabet, Meta, and Microsoft. The Invesco QQQ Trust Series 1 (QQQ) is in a resistance zone, and a positive earnings spark could lead to a breakout. Money flows are positive in major tech stocks and ETFs like QQQ and SPY. Meanwhile, oil prices have fallen due to geopolitical tensions, and the Japanese yen is weakening, impacting Japanese stocks.

Portfolio Pulse from The Arora Report

October 28, 2024 | 3:10 pm

Crude oil prices dropped over 6% following Israeli airstrikes in Iran, impacting U.S. energy stocks and sector ETFs. The United States Oil Fund (USO) saw a significant decline, and major energy ETFs like XLE, XOP, and OIH also experienced losses. Analysts predict oil prices will remain under pressure due to geopolitical tensions, China's declining demand, and potential OPEC+ production increases.

Portfolio Pulse from Piero Cingari

October 28, 2024 | 1:27 pm

Oil prices are trading lower following reports that Israel did not damage Iran's oil sites during recent strikes. This development has implications for oil-related ETFs such as BNO and USO.

Portfolio Pulse from Benzinga Newsdesk

October 28, 2024 | 11:20 am

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

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