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

Oil prices fell after reports that Israel would not target Iranian oil. Healthcare stocks, including UnitedHealth, declined following Q3 earnings. The Biden administration is considering restricting chip exports to certain countries.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 2:00 pm

Oil prices are trading lower following reports that Israel may target military sites in Iran, but not oil or nuclear facilities. This development has implications for oil-related ETFs such as BNO and USO.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 10:50 am

U.S. markets closed higher with record highs in the S&P 500 and Dow, led by semiconductors like Arm Holdings and Nvidia. Energy stocks declined due to a drop in crude oil prices. Asian markets were mixed, with significant declines in China. European markets showed mixed results, and crude oil prices fell over 5% due to demand concerns.

Portfolio Pulse from Akanksha Bakshi

October 15, 2024 | 10:16 am

China is urging Israel and Iran to de-escalate tensions to avoid further conflict, amid falling oil prices due to weak demand from China and geopolitical instability in the Middle East. This has impacted oil-related ETFs, with USO, DBO, and UCO experiencing significant declines.

Portfolio Pulse from Benzinga Neuro

October 15, 2024 | 9:23 am

John Bolton, former Trump-era national security advisor, urges Israel to target Iran's nuclear program, citing threats to both Israeli and American security. His comments follow recent missile attacks from Iran. Israeli PM Netanyahu has opted against targeting Iran's oil or nuclear facilities to avoid political and economic repercussions. This decision has led to a drop in oil prices, affecting related ETFs.

Portfolio Pulse from Benzinga Neuro

October 15, 2024 | 1:27 am

Oil prices fell after Israeli PM Netanyahu indicated military targets in Iran would be struck, avoiding oil or nuclear sites. This decision aims to prevent political interference in U.S. elections and avoid raising energy prices. The United States Oil Fund (USO) and ProShares Ultra Bloomberg Crude Oil (UCO) both saw declines following the news and OPEC's reduced oil demand forecasts.

Portfolio Pulse from Erica Kollmann

October 14, 2024 | 10:40 pm

Israeli Prime Minister Netanyahu has informed the U.S. that Israel plans to target Iranian military sites rather than nuclear or oil facilities, aiming to prevent a full-scale war. This decision comes after Iran's missile attack on Israel and is intended to avoid influencing the upcoming U.S. elections. The U.S. has responded by deploying the THAAD missile defense system to Israel, underscoring its commitment to Israel's defense.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:53 pm

Oil prices fell over 2% as OPEC cut its global oil demand growth forecast for the third consecutive month. West Texas Intermediate crude, tracked by the United States Oil Fund (NYSE:USO), dropped 2.2% to below $74 a barrel. OPEC's revision is due to lower demand expectations and increased Iranian oil production. Concerns about U.S. commitment to restricting Iranian exports and geopolitical tensions in the Middle East could further destabilize energy markets.

Portfolio Pulse from Piero Cingari

October 14, 2024 | 7:57 pm

Citi maintains its baseline forecast for Brent oil prices at $74/barrel in Q4 2024 and $65/barrel in Q1 2025. The bank raises its bull case scenario for oil prices to $120/barrel for both quarters, while maintaining its bear scenario, which includes OPEC+ increasing production starting in December.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 5:49 pm

Israeli Prime Minister Netanyahu's UN speech emphasized Israel's intent to continue striking Hezbollah in Lebanon, including Beirut. This geopolitical tension could impact markets, particularly those related to Israel and energy sectors.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 5:10 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.