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 American Petroleum Institute (API) reported a significant draw of 3.9 million barrels in crude oil stock, contrary to the expected build of 700,000 barrels. This unexpected draw could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 8:43 pm

US stocks rebounded on Monday, driven by a surge in tech stocks and semiconductor ETFs. The Nasdaq 100 rose 1%, while the S&P 500 and Dow Jones also saw gains. CrowdStrike continued its selloff, falling 13% after multiple downgrades. Nvidia surged 3.8% on news of a new AI chip for the Chinese market. Oil prices hit a one-month low, and natural gas spiked 7%. Key ETFs like SMH, SOXX, SPY, DIA, QQQ, XLK, and XLE showed varied performances.

Portfolio Pulse from Piero Cingari

July 22, 2024 | 5:36 pm

The article discusses the stock market's reaction to Biden's withdrawal and Harris becoming the presumptive nominee. It highlights the positive money flows in major tech stocks and ETFs, and the potential impact on various assets including Bitcoin, gold, and oil.

Portfolio Pulse from The Arora Report

July 22, 2024 | 2:39 pm

On July 19th, U.S. stock markets closed lower due to a global tech outage caused by a glitch in Crowdstrike’s software, affecting Microsoft’s Windows system. The Dow Jones fell 0.93%, the S&P 500 declined 0.71%, and the Nasdaq Composite dropped 0.81%. Energy shares experienced the largest decline, while healthcare and utilities posted gains. Baker Hughes reported a decrease in active U.S. oil rigs. European markets advanced, and the U.S. dollar retreated while gold held above $2,400.

Portfolio Pulse from Akanksha Bakshi

July 22, 2024 | 10:36 am

U.S. Secretary of State Blinken announced that the U.S. is close to finalizing a ceasefire agreement between Israel and Hamas, with only some critical details left to negotiate. Both Israel and Hamas have agreed to the framework proposed by President Biden.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 3:12 pm

U.S. stock markets closed lower on July 18, with major indexes dropping and sectors like healthcare, consumer discretionary, and financials suffering the most. Energy stocks closed higher. Pre-market drops were seen in CrowdStrike and Microsoft due to a global Windows crash. Asian and European markets also declined, and commodities like gold and silver saw significant drops. The U.S. Dollar strengthened amid global market unease.

Portfolio Pulse from Akanksha Bakshi

July 19, 2024 | 11:01 am

The White House has been monitoring threats from Iran concerning the former administration, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 4:22 pm

Reuters reported that OPEC+ is unlikely to change its oil output policy at the August 1 JMMC meeting, according to sources.

Portfolio Pulse from charles@benzinga.com

July 18, 2024 | 11:24 am

Global markets showed mixed results with U.S. stock markets closing mixed, Asia experiencing varied performance, and European markets advancing. The S&P 500 and Nasdaq fell sharply due to potential U.S. trade restrictions on China, while the Dow Jones Industrial Average rose. Commodities saw minor fluctuations, and the U.S. Dollar gained.

Portfolio Pulse from Akanksha Bakshi

July 18, 2024 | 10:36 am

The Biden administration privately warned Iran about suspicious nuclear activities, raising concerns about potential nuclear weapon development. U.S. and Israeli intelligence detected these activities, but Iran denied any policy change. The situation led to increased security for former President Trump due to an unrelated Iranian assassination plot. Despite some easing of anxieties, significant concerns remain about Iran's nuclear ambitions.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 7:19 pm

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