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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Global markets showed mixed results with the U.S. stock markets closing mixed after the Federal Reserve held interest rates steady. U.S. private employers added 192,000 jobs in April, and the ISM manufacturing PMI indicated a contraction. Energy stocks in the S&P 500 saw the biggest drop, while utilities gained. Asian markets were mixed, with notable gains in Hong Kong shares of Chinese electric vehicle makers like Nio Inc after strong April delivery numbers. European markets were mostly down, and commodities saw crude oil trading higher.

Portfolio Pulse from Akanksha Bakshi

May 02, 2024 | 10:49 am

OPEC+ is considering extending oil production cuts, but formal discussions have not yet begun, according to sources cited by Reuters. This consideration could impact global oil supply and prices.

Portfolio Pulse from Charles Gross

May 02, 2024 | 10:44 am

Stocks gained and the dollar fell following comments from Powell indicating that the next policy rate move is unlikely to be a hike. CVS shares dropped due to weak earnings, while oil prices declined on inventory build.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 7:53 pm

Oil prices have declined due to a significant increase in US crude oil inventories, impacting related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 4:44 pm

Super Micro Computer Inc (SMCI) experienced a significant drop, illustrating the volatility and risks in artificial intelligence (AI) investments. The article emphasizes the importance of prudent investment strategies, highlighting the differences between SMCI and other tech companies like Nvidia (NVDA). It also discusses the broader stock market's dependence on Federal Reserve decisions, with a focus on the upcoming FOMC meeting. Additionally, it provides insights into current money flows in major tech stocks and sectors, including the performance of gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

May 01, 2024 | 2:57 pm

The latest report from the USA Energy Information Administration (EIA) shows a weekly distillates stocks draw of 0.732 million barrels, contrasting with a build of 1.614 million barrels in the previous week.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:31 pm

USA crude oil inventories experienced a significant build of 7.265 million barrels, contrasting with the expected draw of 2.3 million barrels and the previous draw of 6.368 million barrels.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:30 pm

The API reported a weekly crude oil stock increase of 4.906 million barrels, indicating a significant build in oil inventories.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:36 pm

Stocks declined after the release of upbeat wage data, suggesting potential inflationary pressures that could influence the Federal Reserve's policy decisions. The dollar strengthened, while oil prices fell due to optimism about peace in the Middle East, impacting commodities and currency markets.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:55 pm

Oil prices are declining due to concerns over the US economy and optimism for a ceasefire between Israel and Gaza.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:18 pm

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