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 significant draw in distillate stocks of 2.28 million barrels, much higher than the expected draw of 500,000 barrels. This indicates a tighter supply in the market.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:01 pm

Gasoline inventories saw a draw of 2.28 million barrels, contrary to the expected build of 1.5 million barrels. This unexpected draw could impact the prices of oil-related assets.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:00 pm

On June 18th, U.S. stock markets closed in green with the S&P 500 and Nasdaq reaching record highs, driven by Nvidia's surge. Nvidia overtook Microsoft to become the world's most valuable company. U.S. retail sales rose 0.1% in May, missing expectations, while industrial production increased by 0.9%. Most S&P 500 sectors closed higher, led by industrials, tech, and financials. Asian markets showed mixed results, while European markets advanced. Crude oil hit $80 again.

Portfolio Pulse from Akanksha Bakshi

June 20, 2024 | 11:36 am

The American Petroleum Institute (API) reported a build in crude oil stocks of 2.264 million barrels, a draw in gasoline stocks of 1.077 million barrels, a build in distillate stocks of 538,000 barrels, and a build in Cushing stocks of 524,000 barrels.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 8:36 pm

The Pentagon has stated that no one wants to see a wider regional war when asked about a possible Israeli offensive in Lebanon. This statement comes amid rising tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 7:33 pm

Embraer's defense unit CEO identifies India, Saudi Arabia, and the EU as strategic markets. The company is in early talks with Saudi Arabia for the potential sale of up to 25 C-390 military aircraft, with a decision expected in 2-4 years.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 7:27 pm

The Israel military has announced that operational plans for an offensive in Lebanon have been approved and validated. This development could have significant geopolitical and economic implications.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 7:26 pm

The article discusses the current state of the stock market, highlighting the momentum-driven rally in AI stocks and the potential risks associated with it. It mentions the SPDR S&P 500 ETF Trust (SPY) as a key indicator, noting its overbought status and low trading volume. The article also covers the recent retail sales data, which came in below expectations, and the bankruptcy filing of Fisker Inc. Additionally, it provides insights into early trade money flows for major tech stocks and ETFs, as well as the behavior of the 'momo crowd' and 'smart money' in various asset classes.

Portfolio Pulse from The Arora Report

June 18, 2024 | 3:06 pm

On June 17th, U.S. stock markets hit record highs driven by technology stocks, with Apple and Microsoft rebounding. The NY Empire State Manufacturing Index showed improvement. The S&P 500 sectors mostly finished higher, led by industrials, information technology, and consumer discretionary stocks. Asian and European markets also saw gains, while crude oil prices dipped slightly.

Portfolio Pulse from Akanksha Bakshi

June 18, 2024 | 11:35 am

Some owners of Colonial Pipeline are exploring selling their stakes, aiming for deals that would value the entire company at over $10 billion, according to sources.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 7:34 pm

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