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 article discusses a relief rally in the stock market driven by the latest PCE data, which came in line with expectations. It highlights the impact on various assets, including SPDR S&P 500 ETF Trust (SPY), NVIDIA Corp (NVDA), Advanced Micro Devices, Inc. (AMD), Dell Technologies Inc (DELL), and others. The article also mentions the positive money flows in major tech stocks and ETFs, as well as the impact on gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

May 31, 2024 | 2:33 pm

The U.S. Treasury has issued new sanctions related to Iran, which could impact various sectors including energy and financial markets.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 2:06 pm

OPEC+ is expected to extend its current production cuts amid rising summer demand, with a virtual meeting scheduled for June 2. The decision is influenced by increased demand from China and the U.S. Investors may consider oil ETFs like VDE, OIH, USO, IEO, XES, and UCO.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 6:33 am

U.S. and British military forces conducted strikes against 13 Houthi targets in Yemen, according to a Reuters report.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:16 pm

OPEC+ is discussing extending some oil output cuts expiring in 2024 into 2025. This extension will likely be on top of voluntary cuts into Q3-Q4 of 2024 and will be conditional on agreeing individual member output capacity figures later in 2024.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 4:54 pm

The article discusses various financial insights, including the performance of the iShares 20+ Year Treasury Bond ETF (TLT), concerns about private credit, and notable earnings reports from companies like Salesforce (CRM), C3.ai (AI), and Best Buy (BBY). It also highlights early trade money flows in major tech stocks and ETFs, and provides guidance on protection bands and traditional 60/40 portfolios.

Portfolio Pulse from The Arora Report

May 30, 2024 | 4:52 pm

The EIA reported a significant build in distillate stocks, with an increase of 2.544 million barrels compared to the estimated build of 0.400 million barrels and the prior build of 0.379 million barrels.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 3:00 pm

USA crude oil inventories saw a significant draw of 4.156 million barrels, compared to the expected draw of 1.600 million barrels and the previous build of 1.825 million barrels.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 3:00 pm

Global markets experienced mixed performance with U.S. stocks closing in red due to rising Treasury yields and uncertainty over Federal Reserve interest rate cuts. Asian markets also saw declines, while European markets showed slight gains. Crude oil prices fell below $80 again.

Portfolio Pulse from Akanksha Bakshi

May 30, 2024 | 10:42 am

The American Petroleum Institute (API) reported a significant draw of 6.490 million barrels in crude oil stock, far exceeding the estimated draw of 1.9 million barrels. This unexpected reduction in crude oil inventory could impact oil prices and related assets.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 8:40 pm

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