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 fluctuated as a potential hurricane approaches the U.S. Gulf Coast, affecting oil futures and stocks. Brent and WTI crude prices initially rose but then fell. Oil companies like Exxon Mobil, Chevron, and Marathon Oil saw gains, while ETFs like USO, UCO, and BNO declined.

Portfolio Pulse from Michael Juliano

September 09, 2024 | 2:58 pm

U.S. markets closed lower due to a disappointing jobs report, leading to uncertainty about the Federal Reserve's interest rate decisions. Major indexes like the S&P 500, Dow, and Nasdaq saw significant weekly declines. Crude oil prices rose due to hurricane risks, while the U.S. dollar strengthened.

Portfolio Pulse from Akanksha Bakshi

September 09, 2024 | 10:23 am

The White House has commented on a report that Iran has sent short-range ballistic missiles to Russia, stating that such a transfer would represent a significant escalation in Iranian support for Russia.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 8:21 pm

Iran has sent short-range ballistic missiles to Russia, which could escalate the conflict in Ukraine. The U.S. and Europe are considering sanctions against Iran in response.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 5:32 pm

The latest Baker Hughes report shows the U.S. oil rig count remains unchanged at 483, while the gas rig count decreased by 1 to 94, bringing the total rig count to 582, down from 583 previously.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 5:06 pm

The recent jobs report, known as the 'mother of all reports', has disappointed both bulls and bears due to mixed data, making it difficult for the Fed to decide on interest rate cuts. Fed Governor Waller's upcoming remarks are expected to influence market direction. Broadcom's earnings met expectations for AI chips but fell short overall, impacting AI stocks. Money flows are positive in major tech stocks and ETFs like SPY and QQQ. Investors are advised to maintain a protection band strategy to balance risk and opportunity.

Portfolio Pulse from The Arora Report

September 06, 2024 | 3:54 pm

Oil prices are declining due to reports of the U.S. and Iraq planning to end the American-led coalition, leading to troop withdrawals in 2025-2026, and Saudi Arabia's decision to cut October's crude oil price to Asia.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 3:14 pm

The U.S. and Iraq have reached an understanding to end the U.S.-led coalition presence in Iraq. The plan involves the withdrawal of hundreds of coalition troops by September 2025, with the remaining troops leaving in 2026.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 2:49 pm

OPEC+ has decided to delay its planned oil output increase for October and November due to recent drops in crude prices. This decision has temporarily lifted oil prices, but concerns remain about future demand and supply dynamics. Analysts suggest that OPEC+ may need to maintain cuts to stabilize prices.

Portfolio Pulse from Lekha Gupta

September 06, 2024 | 12:23 pm

Global markets experienced declines with U.S. indices mixed, as investors await key jobs data. The S&P 500 and Dow fell, while the Nasdaq rose slightly. Oil prices remained under pressure, and the U.S. dollar weakened. Asian and European markets also saw declines.

Portfolio Pulse from Akanksha Bakshi

September 06, 2024 | 10:48 am

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