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 U.S. Department of Energy has awarded contracts for the sale and liquidation of 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve. The gasoline is being sold at an average price of $2.34 per gallon to help lower gas prices ahead of the Fourth of July holiday. Contracts were awarded to BP, George E. Warren, Vitol, Freepoint Commodities, and Irving Oil.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:49 pm

Over 12 oil companies, including ExxonMobil, Shell, and Brazil's Petrobras, have shown interest in acquiring a 40% stake in Galp Energia's major offshore Namibia oil discovery. The discovery is estimated to hold 10 billion barrels of oil and gas, valued at over $10 billion.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:20 pm

Oil prices are rising as traders expect increased demand during the summer and better-than-expected Chinese manufacturing activity data.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 5:51 pm

Saudi Arabia's Energy Minister has announced the discovery of multiple new oil and gas fields, according to the state news agency. This development could have significant implications for global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 3:28 pm

The article discusses the strong seasonality for Invesco QQQ Trust Series 1 (QQQ) in early July, driven by blind money inflows and positive sentiment. It also highlights the impact of meme stock activities on Chewy Inc (CHWY) and GameStop Corp (GME), and mentions positive money flows in major tech stocks and ETFs. Additionally, it provides insights on protection strategies and the traditional 60/40 portfolio.

Portfolio Pulse from The Arora Report

July 01, 2024 | 2:36 pm

The latest Baker Hughes report shows a decrease in the U.S. oil rig count by 6 to 479 and a decrease in the gas rig count by 1. The total rig count now stands at 581, down from 588 in the previous report.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:05 pm

The U.S. Energy Information Administration (EIA) reported that demand for oil and petroleum products rose to 20 million barrels per day in April, the highest level since December 2023.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 3:14 pm

The article discusses the current market conditions, focusing on the PCE data, personal spending, and income figures, as well as the impact of the recent presidential debate on the market. It also highlights the money flows in major tech stocks and ETFs, and provides guidance on protection bands for investors.

Portfolio Pulse from The Arora Report

June 28, 2024 | 3:08 pm

The article discusses the high expectations surrounding AI stocks, using Micron (MU) as an example. Despite good earnings, MU stock fell due to inline revenue guidance. The article also covers money flows in major tech stocks and ETFs, and provides insights on the upcoming presidential debate's potential market impact.

Portfolio Pulse from The Arora Report

June 27, 2024 | 5:11 pm

The article discusses the end-of-quarter window dressing, the upcoming release of the Fed's favorite inflation gauge (PCE), and various stock movements. It highlights the earnings report of Micron Technology (MU), significant investments in Rivian Automotive (RIVN) by Volkswagen (VWAGY), and the positive and negative money flows in major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

June 26, 2024 | 5:51 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.