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 EIA reported a weekly draw of 0.377 million barrels in distillate stocks, which is significantly lower than the expected draw of 1.500 million barrels and the prior draw of 1.726 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 2:30 pm

USA crude oil inventories reported a build of 3.591 million barrels, contrary to the expected draw of 2.600 million barrels and the prior draw of 2.547 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 2:30 pm

The American Petroleum Institute (API) reported a crude oil stock build of 914,000 barrels for the week, contrary to the expected draw of 3 million barrels. This unexpected increase in crude oil inventory could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 8:38 pm

Nvidia (NVDA) has bounced off a mini support zone after an 18% drop, with future movements potentially influenced by Micron Technology (MU) earnings. Airbus (EADSY) faces supplier issues, and early trade shows positive money flows in several tech giants. Investors are advised to maintain a protection band strategy.

Portfolio Pulse from The Arora Report

June 25, 2024 | 6:35 pm

Micron's upcoming earnings report is expected to significantly influence the AI rally and the broader stock market. The report will be released on Wednesday after the close. Other notable mentions include Apple's regulatory issues in Europe, mixed money flows in major tech stocks, and cooling inflows in Bitcoin ETFs.

Portfolio Pulse from The Arora Report

June 24, 2024 | 3:59 pm

The U.S. Environmental Protection Agency (EPA) will review Texas' oversight of oil and gas wastewater disposal wells following a petition from an environmental group that raised substantial concerns about the state's permitting process.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 8:22 pm

The U.S. Baker Hughes Oil Rig Count has decreased by 3 to 485, compared to 488 previously. The total U.S. Baker Hughes Rig Count is now 588, down from 590 prior.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 5:03 pm

Global markets experienced mixed performance with U.S. stock markets closing mixed, Asian markets mostly declining, and European markets also down. The U.S. Dollar strengthened due to a relatively hawkish Federal Reserve stance despite weak housing and labor market data.

Portfolio Pulse from Akanksha Bakshi

June 21, 2024 | 10:55 am

Quadruple witching is driving AI stocks, including Nvidia, higher despite deteriorating internals in the Nasdaq 100. The market shows signs of being overextended and overbought, with low volume indicating a lack of conviction. Noteworthy news includes a potential Apple source code breach and Dell's involvement in xAI's supercomputer. Housing data is weaker than expected, and the Bank of England has held rates steady. Early trade shows positive money flows in Meta and Nvidia, while Apple sees negative flows.

Portfolio Pulse from The Arora Report

June 20, 2024 | 3:07 pm

The latest report on USA crude oil inventories shows a draw of 2.547 million barrels, which is less than the estimated draw of 2.800 million barrels. This follows a prior build of 3.730 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:01 pm

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