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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Stock futures dipped on news of an Israeli attack on Iran but were aggressively bought by the momo crowd, indicating net demand. Oil initially rallied but then lost its gains. New York Fed President John Williams hinted at potential rate hikes if needed, contrary to earlier momo guru predictions of rate cuts. Tesla Inc fell below $150 in premarket trading, down significantly year-to-date. Early trade money flows were positive for Meta Platforms Inc and SPDR S&P 500 ETF Trust, neutral for Apple Inc and Microsoft Corp, and negative for Amazon.com Inc, Alphabet Inc, NVIDIA Corp, and Tesla Inc. Gold and oil saw mixed actions from the momo crowd and smart money.

Portfolio Pulse from The Arora Report

April 19, 2024 | 3:23 pm

Netflix's stock falls following Q1 earnings report, while US Oil remains stable despite tensions between Iran and Israel. Bitcoin sees an increase in value.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:58 pm

The IMF projects a 'Full Reversal' of oil output cuts at the beginning of 2025, anticipating that OPEC+ will start to gradually increase oil production from July onwards, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:35 pm

The Biden administration is considering allocating over $1 billion in new arms for Israel, in addition to a military aid bill currently before the House. This move comes amid ongoing conflict in Gaza.

Portfolio Pulse from Charles Gross

April 19, 2024 | 9:35 am

Reuters reports, citing Iranian Press TV, that the situation in Iran's Isfahan is normal with no explosion occurring on the ground, and Iran's nuclear facilities remain unharmed.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:58 am

Three explosions were reported near an army base in northwest Isfahan, Iran, according to the Fars News Agency. Air defense systems were activated in response to an object suspected to be a drone. The situation suggests heightened tensions in the region, which could have implications for global security and oil markets.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:53 am

Israeli missiles targeted a site in Iran, confirmed by a U.S. official to ABC News. The attack follows Iran's launch of hundreds of missiles and drones into Israel, which was largely intercepted by Israel's Iron Dome defense system. The Iron Dome's performance, intercepting 99% of the threats, is highlighted as a significant strategic achievement. The escalation has led to a suspension of flights to Tehran, Isfahan, and Shiraz in Iran.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:34 am

The United States has imposed additional restrictions on the delegation of the Iranian Foreign Minister during their stay in New York for UN meetings, according to the State Department.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 6:07 pm

Iran's Foreign Minister announced at the UN Security Council that Iran's defense actions and countermeasures have concluded. He emphasized that Israel must be compelled to halt any further military actions against Iran's interests.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 5:28 pm

White House Economic Adviser Brainard stated that the Biden Administration aims to maintain gas prices within their current ranges, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:29 pm

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