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 U.S. Energy Department has announced the purchase of 1.5 million barrels of oil for the Strategic Petroleum Reserve, with delivery scheduled for January.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 6:07 pm

U.S. stock markets closed higher on August 14th, with the S&P 500 extending its winning streak to five sessions, supported by lower-than-expected inflation data. The Dow Jones Industrial Average and Nasdaq Composite also saw gains. Asian markets mostly rose, while European markets were mixed. Commodities like oil and gold saw price increases.

Portfolio Pulse from Akanksha Bakshi

August 15, 2024 | 10:54 am

Wall Street experienced mixed reactions as the July consumer inflation report showed a continued cooling trend, with the headline CPI at 2.9% year-over-year. Financial stocks outperformed, while communication services and consumer discretionary sectors lagged. Key movers included Alphabet Inc., Tesla Inc., and Starbucks Inc. Long-dated Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF. The U.S. dollar index remained steady, while oil prices and Bitcoin declined.

Portfolio Pulse from Piero Cingari

August 14, 2024 | 5:28 pm

The EIA reported a weekly draw in distillate stocks of 1.673 million barrels, which is less than the estimated draw of 1.800 million barrels. This follows a prior build of 0.949 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 2:30 pm

USA crude oil inventories reported a build of 1.357 million barrels, contrary to the expected draw of 1.900 million barrels and the prior draw of 3.728 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 2:30 pm

The article discusses the impact of recent CPI data on the stock market, highlighting aggressive buying in Nvidia (NVDA) ahead of its earnings report. It also mentions the U.S. government's potential breakup of Alphabet (GOOG) and early trade money flows in major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

August 14, 2024 | 2:21 pm

U.S. stock markets rose to a nearly two-week high due to softer producer prices, increasing expectations of a Federal Reserve rate cut in September. Key consumer price data and retail sales figures are now in focus. The S&P 500 saw gains in communication services, tech, and consumer discretionary sectors, while energy stocks fell. The Dow Jones, S&P 500, and Nasdaq Composite all closed higher. Asian markets showed mixed results, with Japan and Australia rising, while China and Hong Kong declined. European markets and commodities like gold and crude oil also saw gains.

Portfolio Pulse from Akanksha Bakshi

August 14, 2024 | 11:16 am

The American Petroleum Institute (API) reported a significant draw of 5.205 million barrels in crude oil stock, compared to the expected draw of 2.000 million barrels. This larger-than-expected draw could impact oil prices and related assets.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:36 pm

Israeli Prime Minister Benjamin Netanyahu faces criticism for preventing a cease-fire with Hamas to maintain political support, while tensions with Iran escalate. The humanitarian situation in Gaza worsens, with thousands of displaced Palestinians lacking basic necessities. ETFs such as SPDR S&P 500 ETF Trust (SPY), SPDR Gold Shares (GLD), and United States Oil Fund (USO) show mixed performance amid the ongoing conflict.

Portfolio Pulse from Anthony Noto

August 13, 2024 | 7:31 pm

President Biden expressed his expectation that Iran would refrain from a retaliatory strike if a Gaza ceasefire deal is reached.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 7:30 pm

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