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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Oil prices are trading lower due to an increase in US crude inventories.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 7:11 pm

President Biden plans to release 1 million barrels of gasoline to address rising fuel prices. The Consumer Financial Protection Bureau (CFPB) has classified Buy Now Pay Later (BNPL) apps as credit cards, impacting companies like Affirm (AFRM) and Square (SQ). The Federal Reserve's minutes are set to be released at 2:00 p.m., which could influence market sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:41 pm

Nvidia's upcoming earnings report is crucial for the AI sector and the broader stock market. Analog Devices reported better-than-expected earnings, while Target missed expectations. Early trade shows mixed money flows among major tech stocks and ETFs. UK inflation data disappointed, affecting market sentiment.

Portfolio Pulse from The Arora Report

May 22, 2024 | 4:07 pm

The EIA reported a build of 0.379 million barrels in distillate stocks, contrary to the expected draw of 0.100 million barrels and the previous draw of 0.045 million barrels.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 2:31 pm

USA crude oil inventories saw a build of 1.825 million barrels, contrary to the expected draw of 2.400 million barrels and the prior draw of 2.508 million barrels. This unexpected increase in crude oil inventories could impact oil prices and related assets.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 2:30 pm

The USA API Weekly report shows a crude oil stock build of 2.48 million barrels, a Cushing build of 1.77 million barrels, a gasoline build of 2.088 million barrels, and a diesel draw of 0.32 million barrels.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 8:43 pm

The Biden administration will release 1 million barrels of gasoline from reserves in the Northeast to reduce prices at the pump ahead of the July 4 holiday. The gasoline will be distributed in quantities of 100,000 barrels to ensure a competitive bidding process, with retailers and terminals receiving the supply by June 30.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:20 pm

The article discusses the recent investor day at JPMorgan Chase & Co (JPM) and CEO Jamie Dimon's comments on the stock's overvaluation, leading to a sell-off by smart money. It also covers earnings reports from Lowe's (LOW), Macy's (M), and Palo Alto Networks (PANW), as well as early trade money flows in major tech stocks and ETFs. Additionally, it touches on gold, oil, and bitcoin market activities.

Portfolio Pulse from The Arora Report

May 21, 2024 | 2:34 pm

On May 20th, U.S. stock markets closed mixed with the Nasdaq reaching a record high and the S&P 500 rising slightly due to gains in technology stocks ahead of Nvidia’s earnings. The Dow Jones Industrial Average fell. Asian and European markets dipped, with notable declines in Japan, China, and Hong Kong. Commodities like crude oil and gold also saw declines.

Portfolio Pulse from Akanksha Bakshi

May 21, 2024 | 10:53 am

U.S. Secretary of State Blinken has stated that the U.S. fundamentally rejects the International Criminal Court (ICC) warrants, which could jeopardize ongoing ceasefire talks.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:33 pm

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