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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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

The EIA reported a build of 3.454 million barrels in distillate stocks, contrary to the expected draw of 0.500 million barrels. This follows a previous build of 4.884 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 2:30 pm

USA crude oil inventories saw a significant draw of 4.870 million barrels, much higher than the estimated draw of 0.900 million barrels and the prior draw of 3.443 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 2:30 pm

The American Petroleum Institute (API) reported a significant draw of 4.44 million barrels in crude oil stock, compared to the previous draw of 1.923 million barrels. This larger-than-expected draw could impact oil prices and related assets.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:45 pm

Saudi Aramco is set to acquire a 50% stake in Air Products Qudra's Blue Hydrogen Industrial Gases (BHIG) to develop a lower-carbon hydrogen production business. This move aims to support the growth of Aramco's new energies portfolio. Upon completion, Aramco and APQ will each own a 50% stake in BHIG.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 2:56 pm

The article discusses a breakout in small caps, driven by the anticipation of rate cuts, with an 85% probability of a rate cut in September. It highlights notable earnings from Morgan Stanley and Bank of America, and positive money flows in major tech stocks and ETFs. The article also touches on Bitcoin's range-bound status and provides investment strategies for different risk preferences.

Portfolio Pulse from The Arora Report

July 16, 2024 | 2:05 pm

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