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 increased due to Middle East tensions and Libya's production halt. Chinese e-commerce stocks fell after Pinduoduo's sales miss. NVIDIA is expected to report strong sales in its upcoming Q2 report.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 1:41 pm

Oil prices are rising due to increased tensions in the Middle East, specifically between Israel and Hezbollah, and reports of Libya halting oil production.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 1:31 pm

U.S. stocks closed higher as Fed Chair Jerome Powell hinted at a potential rate cut in September, boosting major indexes like the S&P 500, Dow Jones, and Nasdaq. Financial stocks reached an all-time high, and all 11 major sectors of the S&P 500 ended in positive territory. Oil prices rose due to geopolitical tensions, while gold hit a record high as the dollar weakened.

Portfolio Pulse from Akanksha Bakshi

August 26, 2024 | 11:05 am

The U.S. Energy Department has purchased nearly 2.5 million barrels of oil to replenish the Strategic Petroleum Reserve. This move could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 8:36 pm

The latest Baker Hughes report shows no change in the U.S. oil rig count, a decrease of one in the natural gas rig count, and a total rig count of 585, down from 586 previously.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:02 pm

The article discusses the potential impact of Powell's speech at Jackson Hole and Nvidia's upcoming earnings on the stock market. It highlights the current resistance zone in the S&P 500 and the influence of the Bank of Japan's interest rate decisions on carry trades. Positive money flows are noted in major tech stocks and ETFs, while investors are advised to maintain a protection band strategy.

Portfolio Pulse from The Arora Report

August 23, 2024 | 3:16 pm

Iran's new foreign minister has emphasized Iran's right to retaliate against Israel for the assassination of a Hamas official, in discussions with French and British counterparts.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 3:13 pm

U.S. stocks closed lower due to economic slowdown concerns, with major indexes like the Dow, S&P 500, and Nasdaq declining. Technology stocks led the fall, while financials and real estate gained. Gold hit a new all-time high, and U.S. futures showed positive movement.

Portfolio Pulse from Akanksha Bakshi

August 23, 2024 | 11:03 am

Oil prices are rising due to a decrease in U.S. crude inventories and ongoing Middle East tensions that could affect supply.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 4:39 pm

Investors are aggressively buying semiconductors ahead of Nvidia's earnings, despite technical indicators suggesting overbought conditions. Money flows are positive in major tech stocks like Apple, Amazon, and Nvidia. The U.S. payroll revision and dovish FOMC minutes suggest potential rate cuts, influencing market sentiment.

Portfolio Pulse from The Arora Report

August 22, 2024 | 3:07 pm

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