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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An Israeli strike targeted Muhsin Shukr, the head of Hezbollah's operations room. His fate remains unknown. The incident could have implications for regional stability and energy markets.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 5:40 pm

BBC World Service correspondent Nafiseh Kohnavard reported on X that Israel attacked a location in Dahieh, Beirut. This development could have implications for various sectors, including energy and defense.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:50 pm

A loud blast was heard in the Lebanese capital, Beirut, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:46 pm

The article discusses the upcoming earnings report from Microsoft (MSFT) and its potential impact on AI stocks, the start of the FOMC meeting, and the importance of the Bank of Japan's decision. It also highlights early trade money flows in major tech stocks and ETFs, and provides investment advice on protection bands and bond allocations.

Portfolio Pulse from The Arora Report

July 30, 2024 | 4:32 pm

On Monday, July 29th, U.S. stock markets closed mixed with the S&P 500 slightly higher. The Dallas Fed Manufacturing index declined to -17.5 in July. Tesla's stock rallied after Morgan Stanley added it to its 'top pick' U.S. autos list. Asian markets were mostly down, while European markets were mixed. Crude oil hovered around $75, balancing concerns about Chinese demand and U.S. inventories.

Portfolio Pulse from Akanksha Bakshi

July 30, 2024 | 10:53 am

Former President Donald Trump accused OPEC of manipulating oil prices to favor Vice President Kamala Harris, warning that her potential presidency could be detrimental to the U.S. Oil stocks, including Chevron, Marathon Oil, Exxon Mobil, ConocoPhillips, and EOG Resources, have declined following Harris's nomination. ETFs tied to the oil sector, such as USO, XLE, VDE, and IYE, are also under pressure. Trump's comments come amid speculation that Harris might adopt stricter climate policies if elected.

Portfolio Pulse from Kaustubh Bagalkote

July 30, 2024 | 7:25 am

Israeli Prime Minister Benjamin Netanyahu stated that Hamas is preventing a ceasefire and hostage deal in Gaza, and that Israel has not changed its conditions.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 5:08 pm

The article discusses the recent outperformance of the iShares Russell 2000 ETF (IWM) compared to the 'Magnificent Seven' stocks, driven by factors such as hedge fund short squeezes, favorable policies from Trump, and potential interest rate cuts. It also highlights Trump's proposal for a national strategic bitcoin reserve, which has boosted Bitcoin's price. The article advises caution with small caps due to upcoming earnings reports and suggests maintaining a balanced investment strategy.

Portfolio Pulse from The Arora Report

July 29, 2024 | 4:59 pm

A senior U.S. official has stated that the U.S. is not currently considering revoking individual licenses previously granted to Chevron and other companies for oil operations in Venezuela.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 4:43 pm

The U.S. Department of Energy (DOE) has finalized the purchase of 4.65 million barrels of crude oil for the Strategic Petroleum Reserve (SPR). The crude will be delivered to the Bayou Choctaw SPR site in Louisiana from October to December. Exxon Mobil will supply 3.9 million barrels, while Macquarie Commodities Trading will supply the remaining amount. The average purchase price for the oil was approximately $76.92 per barrel.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 4:16 pm

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