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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An Israeli attack on Syria's Baniyas resulted in the death of one child and injuries to dozens, according to Reuters citing a state news agency.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 6:38 pm

The stock market is under pressure due to soft Treasury auctions and potential rate hikes. Money flows are neutral in NVIDIA and Apple, but negative in Amazon, Alphabet, Meta, Microsoft, Tesla, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust. The momo crowd is buying oil and selling gold, while smart money is inactive. Bitcoin may see a significant drop due to potential Mt. Gox-related sales.

Portfolio Pulse from The Arora Report

May 29, 2024 | 2:42 pm

WTI crude oil prices surged to $80 per barrel, marking the best day in over two months due to anticipated demand and supply constraints. The United States Oil Fund (USO) and Energy Select Sector SPDR Fund (XLE) saw significant gains. Goldman Sachs raised its long-term oil demand outlook and highlighted several Buy- and Sell-rated energy stocks.

Portfolio Pulse from Piero Cingari

May 28, 2024 | 7:55 pm

Oil prices are trading higher ahead of the upcoming OPEC+ meeting, which could influence future production levels and market dynamics.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 7:13 pm

U.S. aid deliveries to Gaza by sea have been suspended due to damage to a temporary pier system caused by bad weather. The repairs are expected to take a week. This suspension is a setback for the aid operation that started two weeks ago.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 4:15 pm

Saudi Arabia plans to raise $10 billion to $20 billion through a fresh sale of Aramco stock. This move could impact the broader market, including ETFs like KSA and SPY.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 1:47 pm

U.S. stock markets closed higher on Friday, driven by positive economic data and Nvidia's strong earnings. The Nasdaq marked its fifth consecutive weekly increase. In contrast, Asian and European markets dipped, while crude oil prices advanced towards $80 per barrel.

Portfolio Pulse from Akanksha Bakshi

May 28, 2024 | 10:40 am

Tensions in the Middle East have escalated due to an Israeli airstrike in Gaza's Rafah city, resulting in significant casualties and global condemnation. Additionally, a shooting incident on the Israeli-Egyptian border has raised tensions further. The Bank of Israel has kept interest rates unchanged, citing inflation concerns. The Israeli shekel weakened, and the iShares MSCI Israel ETF (EIS) and United States Oil Fund (USO) saw minor movements.

Portfolio Pulse from Piero Cingari

May 27, 2024 | 3:28 pm

The Nasdaq 100 surged over 1% on Friday, setting the stage for a record high close and marking its fifth consecutive week of gains. The S&P 500 rose 0.7%, while small-cap stocks saw robust gains. AI-linked stocks and sectors like chipmakers, solar, and power utilities performed well. Treasury yields remained stable, and the U.S. dollar index fell, providing relief to precious metals and crude oil. Several companies saw significant stock movements due to earnings reports.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 5:54 pm

Saudi Arabia's Public Investment Fund (PIF) is considering a reorganization due to budget cuts and project delays. A PIF spokesman declined to comment.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:54 pm

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