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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Citi warns that oil prices could fall below $60 per barrel by 2025 if OPEC+ doesn't cut production further, due to reduced demand and increased supply from non-OPEC countries. The market may lose confidence in OPEC+ maintaining the $70 level, and Citi recommends selling into rallies when Brent nears $80. Goldman Sachs also predicts a potential decrease in oil prices due to AI advancements.

Portfolio Pulse from Lekha Gupta

September 05, 2024 | 4:42 pm

The article discusses the contrasting performance of Clorox (CLX) and Nvidia (NVDA), highlighting CLX's gains amid NVDA's volatility. It also covers the weakening jobs picture and its potential impact on the economy and stock market. Money flows are positive for AMZN and TSLA, but negative for AAPL, GOOG, META, MSFT, NVDA, SPY, and QQQ.

Portfolio Pulse from The Arora Report

September 05, 2024 | 4:24 pm

OPEC announced that eight countries, including Saudi Arabia and Russia, have agreed to extend their voluntary oil production cuts of 2.2 million barrels per day until the end of November 2024. This decision could impact global oil prices and related markets.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:57 pm

The EIA reported a draw in weekly distillates stocks of 0.371 million barrels, contrary to the expected build of 0.710 million barrels. This follows a prior build of 0.275 million barrels.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:00 pm

The latest report on USA crude oil inventories shows a significant draw of 6.873 million barrels, compared to the expected draw of 0.600 million barrels and the prior draw of 0.846 million barrels. This larger-than-expected draw could impact oil prices and related markets.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:00 pm

Oil prices are rising as OPEC+ is reportedly close to agreeing on delaying its planned output increase. This development is likely to impact oil-related ETFs such as BNO and USO.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 2:43 pm

OPEC+ is reportedly close to agreeing on delaying an increase in oil output, which could impact oil prices. This decision is significant for investors in oil-related assets, including the United States Oil Fund (USO).

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 12:51 pm

U.S. markets closed mixed with potential rate cut signals from the Fed. The Dow gained slightly, while the S&P 500 and Nasdaq fell. Job openings hit a 3.5-year low, and the trade deficit expanded. Oil prices rose slightly, and the U.S. dollar retreated.

Portfolio Pulse from Akanksha Bakshi

September 05, 2024 | 11:16 am

Oil prices fell as OPEC+ considers delaying production hikes due to demand concerns and potential Libyan supply. This has impacted oil-related stocks and ETFs, causing declines in Exxon Mobil, Chevron, Shell, and others.

Portfolio Pulse from Michael Juliano

September 04, 2024 | 6:08 pm

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