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. EIA and LSEG data indicate that U.S. power demand reached a preliminary hourly record high on Monday, the hottest day of the summer so far.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:47 pm

U.S. Secretary of State Antony Blinken met with Israeli officials Ron Dermer and Tzachi Hanegbi to discuss ceasefire negotiations between Israel and Hamas. The U.S. State Department believes that the remaining issues can be resolved, and Israeli officials have reaffirmed their commitment to reaching a ceasefire.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:31 pm

The Arora Report has issued a major macro call to reduce the duration of fixed income in portfolios following an assassination attempt on Trump. This call is contrary to Wall Street's consensus of increasing portfolio duration. The report also highlights the potential impact of a Trump presidency on various sectors and stocks, including AI, mergers and acquisitions, and heavily indebted companies. Additionally, significant money flows are observed in major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

July 15, 2024 | 3:10 pm

U.S. stock markets closed higher with the S&P 500 and Dow hitting record highs. Major banks fell on mixed results, while Apple and Nvidia saw gains. June's PPI rose by 0.2%, and consumer sentiment fell to 66. All S&P 500 sectors closed higher, led by IT, consumer discretionary, and materials. Asian markets were mixed, and European markets dipped. Commodities saw minor changes, with gold holding above $2,410.

Portfolio Pulse from Akanksha Bakshi

July 15, 2024 | 10:23 am

The U.S. Baker Hughes Oil Rig Count remains unchanged at 479, while the Gas Rig Count increased by 4, bringing the Total Rig Count to 585, up from 581 previously.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 6:32 pm

The EIA reported a larger-than-expected draw in distillate stocks, with a draw of 1.535 million barrels compared to the estimated draw of 1.100 million barrels. This is also significantly higher than the prior draw of 0.377 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 2:30 pm

USA crude oil inventories saw a significant draw of 12.157 million barrels, much larger than the estimated draw of 0.400 million barrels and the previous build of 3.591 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 2:30 pm

The American Petroleum Institute (API) reported a significant draw of 9.163 million barrels in crude oil stock, compared to the estimated draw of 150,000 barrels.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 8:40 pm

The Supreme Court's ruling granting Trump broad immunity has led to a significant impact on the bond market, with falling bonds and rising yields. This ruling is interpreted as increasing the probability of Trump becoming the next president, which could lead to tax cuts, higher deficits, and sticky inflation. The news has mixed implications for stocks like Apple, Tesla, and Nvidia. Apple may be negatively impacted due to Trump's anti-China policies, Tesla may benefit from Trump's favor towards Musk but face challenges due to anti-EV stance and China production, and Nvidia may benefit from lesser regulation of AI.

Portfolio Pulse from The Arora Report

July 02, 2024 | 4:43 pm

Oil prices have reached a three-month high of $84 per barrel due to record U.S. travel demand and supply disruptions from hurricanes and geopolitical tensions. The U.S. Oil Fund (USO) and Hertz Global Holdings Inc (HTZ) are directly impacted by these developments.

Portfolio Pulse from Piero Cingari

July 02, 2024 | 3:38 pm

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