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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Israel's Defense Minister Gallant has stated that any negotiations with Hamas will only occur under active conflict. This declaration could impact geopolitical stability and market sentiment.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:42 pm

Crude oil inventories saw a build of 1.233 million barrels, contrary to the expected draw of 2.1 million barrels. This unexpected increase in crude oil inventories could impact oil prices and related assets.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:30 pm

The EIA reported a weekly build in distillate stocks of 3.197 million barrels, slightly higher than the expected build of 3 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:30 pm

U.S. stock markets closed higher on June 4th, driven by weak labor market data that fueled expectations for a Federal Reserve rate cut. Most S&P 500 sectors ended higher, with notable gains in real estate, consumer staples, and information technology. Asian markets showed mixed results, while European markets advanced. Crude oil and gold showed minor gains.

Portfolio Pulse from Akanksha Bakshi

June 05, 2024 | 11:00 am

Oil prices have dropped for the fifth consecutive session, hitting a four-month low due to economic growth concerns and a 'bearish' OPEC+ meeting. The United States Oil Fund (NYSE:USO) and the Energy Select Sector SPDR Fund (NYSE:XLE) have been impacted, with USO closing at $73.32 and XLE falling 1% on Tuesday.

Portfolio Pulse from Piero Cingari

June 04, 2024 | 8:49 pm

The American Petroleum Institute (API) reported a crude oil stock build of 4.05 million barrels, contrary to the expected draw of 1.9 million barrels. This follows a previous draw of 6.49 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 8:40 pm

U.S. Treasury Secretary Janet Yellen stated that the U.S. continues to impose sanctions on Iran, but acknowledged the difficulty in curbing the 'shadow fleet' of oil tankers. This could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 7:13 pm

Lawmakers are urging the Department of Justice (DOJ) to investigate potential price fixing by OPEC in the oil and gas markets. This could have significant implications for oil prices and related financial instruments.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 6:04 pm

Hamas official Hamdan has stated that they are waiting for a clear position from Israel. This development could impact geopolitical stability and market sentiment.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 4:41 pm

Hamas official Hamdan stated that without a clear Israeli position on a permanent ceasefire and complete withdrawal from Gaza, they cannot agree to a deal that doesn't secure these terms.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 4:39 pm

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