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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On June 14th, the U.S. stock markets showed mixed results with the Nasdaq achieving a record high, while the S&P 500 and Dow closed slightly lower. Economic data revealed a decline in consumer sentiment and import/export prices. Asian markets mostly declined, while European markets saw slight gains. Commodities like crude oil and gold traded lower.

Portfolio Pulse from Akanksha Bakshi

June 17, 2024 | 11:18 am

President Biden is prepared to reopen the US oil stockpile if petrol prices surge again, according to a report by the Financial Times.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 9:23 am

The U.S. Baker Hughes Oil Rig Count has decreased by 4 to 488, compared to 492 previously. The total U.S. Baker Hughes Rig Count has also dropped to 590 from 594.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 5:03 pm

Hamas' armed wing announced that two Israeli hostages held in Gaza were killed by an Israeli airstrike on Rafah a few days ago.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 2:11 pm

On June 13th, U.S. stock markets closed mixed with the Nasdaq and S&P 500 reaching record highs. Economic data showed a drop in U.S. producer prices and a rise in jobless claims. The Federal Reserve held interest rates steady. Most S&P 500 sectors fell, while tech and real estate stocks rose. Asian markets were mixed, with Japan's Nikkei 225 gaining and Australia's S&P/ASX 200 declining. European markets continued to decline, and commodities showed mixed performance. The U.S. Dollar Index advanced.

Portfolio Pulse from Akanksha Bakshi

June 14, 2024 | 11:00 am

President Biden remains optimistic about a potential Middle East deal but does not foresee a ceasefire in the near future. This ongoing conflict could impact various sectors, including energy and defense.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:11 pm

The article discusses the impact of lower Producer Price Index (PPI) and higher jobless claims on the stock market, highlighting extremely positive sentiment driven by various factors including Elon Musk's pay package approval and Broadcom's stock split. It also mentions the early trade money flows in major tech stocks and ETFs, and provides insights on gold, oil, and Bitcoin trading activities.

Portfolio Pulse from The Arora Report

June 13, 2024 | 3:31 pm

Iran has informed the International Atomic Energy Agency (IAEA) that it plans to install 8 cascades of IR-6 centrifuges at the Fordow enrichment plant over the next 3-4 weeks.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 3:29 pm

U.S. stock markets closed mixed with the S&P 500 and Nasdaq hitting record highs due to lower-than-expected inflation data. The Federal Reserve plans only one rate cut this year, contrary to earlier forecasts. Crude oil prices fell due to increased U.S. crude inventories and a reduced oil demand forecast for 2024. European markets dipped due to the Fed's hawkish stance.

Portfolio Pulse from Akanksha Bakshi

June 13, 2024 | 11:17 am

Doubleline Capital's Jeffrey Gundlach stated that a decrease in oil prices could lead to further relaxation on inflation. This could have implications for various financial assets, including ETFs like SPY and USO.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:35 pm

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