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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Shell has reduced production at several of its assets due to downstream issues caused by Hurricane Francine. Drilling at the Whale asset is paused, with operations expected to resume later this year. Damage assessments are ongoing, and offshore personnel are safe. Shell is redeploying personnel to the Perdido asset, while production at Perdido, Auger, and Enchilada/Salsa remains shut in.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 2:51 pm

The U.S. Treasury Department has issued new sanctions related to Venezuela. These sanctions could impact various sectors, including energy, due to Venezuela's significant oil reserves.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 2:11 pm

U.S. markets closed higher with strong gains in the technology sector, led by Nvidia. Inflation data showed a 0.2% increase in CPI for August. Asian markets were mixed, while European markets advanced. Crude oil and gold prices rose due to disruptions in U.S. Gulf production.

Portfolio Pulse from Akanksha Bakshi

September 12, 2024 | 12:00 pm

Hurricane Francine has led to the shutdown of 39% of oil production in the U.S. Gulf of Mexico as it approaches the Louisiana coast. This could impact oil companies operating in the region.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 6:02 pm

The stock market experienced a slight pullback following hotter-than-expected Core CPI data, which may influence the Fed's interest rate decisions. Despite this, AI stocks, particularly NVIDIA, saw aggressive buying ahead of a speech by Jensen Huang. Money flows were positive for major tech stocks but negative for Tesla. The yen's rally raised concerns about the carry trade, while Bitcoin saw selling pressure post-presidential debate.

Portfolio Pulse from The Arora Report

September 11, 2024 | 2:35 pm

The EIA reported a larger-than-expected build in distillate stocks, with an increase of 2.308 million barrels compared to the estimated 0.300 million. This follows a previous draw of 0.371 million barrels.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 2:30 pm

The latest report on USA crude oil inventories shows a build of 0.833 million barrels, which is slightly below the expected build of 0.900 million barrels. This follows a significant draw of 6.873 million barrels in the previous report.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 2:30 pm

U.S. markets closed mixed with the S&P 500 gaining and the Dow dipping due to concerns over economic growth and declining bank stocks. Asian markets fell, while European markets saw gains. Oil prices rebounded on supply fears, and the U.S. dollar weakened.

Portfolio Pulse from Akanksha Bakshi

September 11, 2024 | 11:38 am

During the ABC News Presidential Debate, Vice President Harris stated she will not ban fracking and emphasized the need to invest in diverse energy sources to reduce reliance on foreign oil.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 1:41 am

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