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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The U.S. has introduced new restrictions on Iran's access to certain 'low-level' technology following its attack on Israel and its cooperation with Russia against Ukraine. This move could potentially impact various sectors and related ETFs due to geopolitical tensions and market reactions to the increased sanctions.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:29 pm

The U.S. has imposed new sanctions on Iran targeting individuals, organizations, and industries in response to an attack on Israel. These sanctions, announced by the Treasury's OFAC, focus on Iran's UAV capabilities and steel industry, aiming to undermine Iran's destabilizing activities and support for terrorism. The UK and EU are aligning with the U.S. in imposing similar sanctions. Market reactions were muted, with slight declines in oil prices and minor movements in major indices and gold.

Portfolio Pulse from Piero Cingari

April 18, 2024 | 2:57 pm

Yemen's Houthi group has conducted 14 operations in the Red Sea, Gulf of Aden, Arabian Sea, and the Indian Ocean, targeting a total of 98 ships, according to their chief.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:04 pm

Iran's Guards Commander Haghtalab announced readiness to launch powerful missiles at designated targets in Israel, according to Reuters citing Iran's Tasnim.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 11:31 am

Venezuela's Oil Minister has stated that US sanctions will not have an impact on the country's oil industry, according to Bloomberg. This statement comes amid ongoing tensions between Venezuela and the United States, with the US imposing sanctions as a means to pressure Venezuela on various fronts, including its oil exports.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:16 pm

Semiconductor and freight stocks declined, while oil prices fell due to an inventory build. Conversely, airline stocks rose, buoyed by strong earnings reported by United Airlines.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 7:50 pm

Venezuela's Oil Minister Tellechea announced the country's willingness to expand the oil area assigned to the joint venture between U.S. Chevron (CVX) and Venezuela's state-run company PDVSA. This move could potentially increase oil production and strengthen the partnership between Chevron and PDVSA.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:29 pm

Oil prices are trading lower due to an increase in US crude inventories and ongoing tensions between Iran and Israel.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:29 pm

The article discusses the impact of Federal Reserve Chair Powell's recent statements on interest rates and inflation, highlighting a temporary dip in the stock market followed by aggressive buying. It also covers the increased demand for advanced semiconductors driven by AI, mentioning ASML Holding NV and Applied Materials, Inc. as key players in the semiconductor equipment market. Additionally, it notes positive early trade money flows in major tech stocks and mixed flows in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1, with a focus on the importance of protection bands for investors.

Portfolio Pulse from The Arora Report

April 17, 2024 | 3:19 pm

Oil prices and semiconductor stocks fell, with the latter influenced by ASML's earnings report. Meanwhile, steel and aluminum stocks rose amid reports that President Biden is considering tripling tariffs on China.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:42 pm

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