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 article discusses U.S. Secretary of State Antony Blinken's push for a cease-fire in Gaza and Lebanon amid escalating Israeli military actions. Israeli Defense Minister Yoav Gallant threatens Iran, and Lebanon's economy faces potential collapse due to the conflict. The VanEck Israel ETF (ISRA) and SPDR S&P 500 ETF (SPY) saw declines, while oil prices tracked by the United States Oil Fund (USO) also fell.

Portfolio Pulse from Piero Cingari

October 23, 2024 | 7:48 pm

Oil prices are declining due to an increase in US crude inventories, which suggests a potential oversupply in the market.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 7:25 pm

The article discusses the recent breakout in silver prices, highlighting the iShares Silver Trust (SLV) and the contradiction of rising silver prices alongside increased dollar demand due to Trump's election prospects. It also notes the money flows in major tech stocks and ETFs, with positive flows in Microsoft (MSFT) and negative flows in Apple (AAPL), Amazon (AMZN), NVIDIA (NVDA), Tesla (TSLA), SPDR S&P 500 ETF (SPY), and Invesco QQQ Trust (QQQ). The article advises investors on protection strategies and notes the importance of cash for future opportunities.

Portfolio Pulse from The Arora Report

October 23, 2024 | 4:16 pm

The EIA reported a draw of 1.140 million barrels in distillate stocks, which is less than the expected draw of 2.000 million barrels and significantly less than the prior draw of 3.534 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 2:32 pm

The latest data shows a significant build in USA crude oil inventories, with an increase of 5.474 million barrels compared to the expected 0.800 million barrels. This contrasts with a prior draw of 2.191 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 2:31 pm

Baker Hughes anticipates that global upstream spending in the coming year will remain similar to the levels seen in 2024, as discussed in their conference call.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 1:50 pm

Baker Hughes reports a significant increase in gas infrastructure equipment orders, driven by developing economies' shift to natural gas. The company anticipates LNG demand to grow by 75% through 2040, while projecting soft oil fundamentals in 2025.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 1:48 pm

U.S. markets closed mixed with Nasdaq gaining slightly, while Dow and S&P 500 saw minor declines. Treasury yields rose, impacting market sentiment. Oil prices fell due to increased U.S. crude inventories, and the U.S. dollar reached a three-month high.

Portfolio Pulse from Akanksha Bakshi

October 23, 2024 | 10:55 am

The American Petroleum Institute (API) reported a weekly crude oil stock build of 1.643 million barrels, which is significantly higher than the expected build of 0.700 million barrels. This follows a previous draw of 1.580 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 8:43 pm

U.S. Secretary of State Blinken and Israel's Netanyahu discussed strategies following the death of Hamas leader Sinwar, focusing on post-war Gaza structures and increasing humanitarian aid. Blinken emphasized that Israel's current aid efforts are insufficient.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 6:32 pm

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