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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

The stock market is reacting positively to cooler-than-expected CPI data, with significant buying in AI stocks and major tech companies. The probability of a rate cut by the Fed in September is now 55%, and 90% by December. Inflation in China is also falling, which helps lower U.S. inflation. The International Energy Agency predicts an oil surplus by 2030. Bitcoin is rallying on lower CPI. Investors are advised to maintain a balanced protection band to manage risk.

Portfolio Pulse from The Arora Report

June 12, 2024 | 3:18 pm

The EIA reported a build of 0.881 million barrels in distillate stocks, higher than the estimated build of 0.500 million barrels and lower than the prior build of 3.197 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 2:30 pm

USA crude oil inventories saw a build of 3.730 million barrels, contrary to the expected draw of 1.200 million barrels. This follows a previous build of 1.233 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 2:30 pm

Iraq's Oil Ministry has announced its commitment to a quota of 203,000 barrels for May 2024, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:08 am

On June 11th, U.S. stock markets closed mixed with the S&P 500 and Nasdaq reaching record highs, driven by a surge in Apple shares. Apple was upgraded by DA Davidson, citing AI advancements. The NFIB Small Business Optimism Index increased. Most S&P 500 sectors ended lower, while IT and communication services stocks closed higher. The Dow Jones closed down, while the S&P 500 and Nasdaq closed up. Asian markets were mixed, and European markets showed gains. Crude oil prices increased, while natural gas declined.

Portfolio Pulse from Akanksha Bakshi

June 12, 2024 | 10:45 am

The American Petroleum Institute (API) reported a weekly crude oil stock draw of 2.428 million barrels, which is larger than the expected draw of 1.750 million barrels. This follows a previous build of 4.052 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:41 pm

An Israeli official has stated that Hamas has rejected a hostage release proposal presented by U.S. President Joe Biden. This development could have implications for geopolitical stability and market sentiment.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:39 pm

The stock market is poised for significant movement based on upcoming CPI data and the FOMC rate decision. Bond movements, particularly those tracked by the iShares 20+ Year Treasury Bond ETF (TLT), will likely influence stock market direction. Early trade shows mixed money flows among major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

June 11, 2024 | 4:50 pm

The EIA has revised its forecast for U.S. petroleum and other liquid fuels consumption. The growth for 2024 is now expected to be 100,000 barrels/day, down from the previous forecast of 200,000 barrels/day. However, the growth for 2025 has been revised upwards to 300,000 barrels/day from the previous forecast of 200,000 barrels/day.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 4:19 pm

The EIA has revised its forecast for U.S. oil output growth in 2025, lowering it to 470,000 barrels/day from the previous 530,000 barrels/day. Additionally, the overall U.S. oil production forecast for 2025 has been slightly reduced to 13.71 million barrels/day from 13.73 million barrels/day.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 4:19 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.