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 White House has officially recognized the Golan Heights as part of Israel, a significant geopolitical move that could impact various sectors and markets.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 3:33 pm

Oil prices remain stagnant despite rising Middle East tensions, with WTI light crude trading just under $78 a barrel. Rising geopolitical tensions involving Israel, Hezbollah, and potential Turkish intervention have not significantly impacted oil prices. Additionally, China's crude oil imports have declined, indicating a struggling recovery. Bank of America suggests a potential bearish breakout in oil prices, with a possible decline to $63-$60 per barrel by the end of 2024. The United States Oil Fund (USO) has risen 13% year to date but is down over 4% in July.

Portfolio Pulse from Piero Cingari

July 29, 2024 | 3:11 pm

Russia's Deputy Prime Minister Novak announced that the Russian market is fully supplied with gasoline and diesel fuel.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 1:58 pm

Russia's Novak announced that the domestic market is fully supplied with gasoline and diesel fuel.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 1:58 pm

U.S. Baker Hughes reported an increase in the oil rig count by 5 to 482, and the total rig count rose to 589 from 586.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 5:05 pm

The article discusses the positive outlook for defense stocks regardless of the election outcome, with RTX, LMT, and LHX showing strong performance. It also highlights the mixed performance of tech stocks and the potential impact of Trump's support for Bitcoin. Additionally, it provides insights into personal income and spending data, and the importance of maintaining a balanced investment strategy.

Portfolio Pulse from The Arora Report

July 26, 2024 | 3:30 pm

The latest PCE report showed mixed results: the headline index fell to 2.5%, the lowest since February 2021, while the core component remained steady at 2.6%. Personal income and spending rose less than expected. Despite this, U.S. equity futures maintained gains, and several ETFs showed notable pre-market increases.

Portfolio Pulse from Piero Cingari

July 26, 2024 | 1:29 pm

On July 25th, U.S. stock markets closed mixed with the Dow Jones Industrial Average rising due to strong GDP data, while the S&P 500 and Nasdaq Composite fell. Initial jobless claims dropped, and the economy grew by 2.8% in Q2. Asian and European markets mostly advanced, and commodities showed mixed performance.

Portfolio Pulse from Akanksha Bakshi

July 26, 2024 | 10:27 am

U.S. Treasury Secretary Janet Yellen stated that sanctions and an oil price cap have constrained Russian revenues. Additionally, the threat of sanctions on financial institutions is impairing Russia's ability to acquire goods needed for its war effort.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 3:14 pm

The article discusses various market movements and economic indicators. Key points include a drop in QQQ due to speculative sentiment, a cooling AI frenzy affecting semiconductor stocks, and a stronger-than-expected Q2 GDP. The yen's rise is impacting gold, bitcoin, and oil prices. Notable stocks and ETFs mentioned include AAPL, ADI, AIQ, AMAT, AMZN, GOOG, IYW, MDB, META, MSFT, MU, NVDA, NXPI, PCG, PWR, QCOM, QQQ, SMH, SPY, TSLA, GLD, SLV, and USO.

Portfolio Pulse from The Arora Report

July 25, 2024 | 3:12 pm

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