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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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White House's Kirby clarified that Iran did not provide early warning to Israel regarding its intentions, which were aimed at causing significant destruction. Although messages were received from Iran, none included specifics on the timeframe, targets, or type of response. Kirby also noted that Israel is in a far stronger strategic position today.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:46 pm

The Israeli Air Force is ready for an imminent attack against Iran in response to Iran's missile and drone launches towards Israeli territory, as stated by Israel's military chief of staff.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:28 pm

President Biden has affirmed the U.S.'s commitment to Israeli security and to achieving a ceasefire that aims to return hostages and prevent the conflict from escalating further.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:22 pm

The Energy Information Administration (EIA) reports that US oil output from top shale-producing regions is expected to increase marginally in May, reaching its highest level since December 2023. This includes rises in the Bakken, Permian, and Eagle Ford regions, with Bakken and Permian output hitting their highest since December 2023, and Eagle Ford reaching its peak since November 2023.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:18 pm

Oil prices are falling due to an Iranian attack on Israel, with minimal damage reported thanks to advance notice. Apple's iPhone shipments fell 10%, and Tesla is laying off 10% of its workforce but cutting its Full Self-Driving subscription price. Positive early trade money flows are seen in Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust, while negative flows are in Apple and Tesla. The article also discusses the impact of consumer spending and financial conditions on the stock market.

Portfolio Pulse from The Arora Report

April 15, 2024 | 4:08 pm

Oil prices are trading lower despite the recent attack by Iran on Israel, reversing gains from last week that were fueled by anticipation of tensions between Israel and Iran.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:50 pm

Israel aims to take action against Iran, seeking to cause harm without triggering an all-out war, and desires coordination with the United States. This strategy was reported following a war cabinet meeting, as per Israel's Channel 12 News.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:37 pm

Following Iran's drone and missile attack on Israel, market sentiment shifted from war fears to calm, with President Biden urging Israel to avoid retaliation. The CBOE Volatility Index dropped, indicating reduced market anxiety. Equities rallied, with SPY and EZU experiencing gains. Oil and gold prices fell, reflecting diminished concerns over Middle East tensions. Analysts suggest the market's reaction is due to no significant casualties and a reduced likelihood of escalation. However, potential Israeli retaliation could impact energy markets, with oil prices potentially surging if the Strait of Hormuz is disrupted.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 3:28 pm

Iran's Foreign Minister stated in a conversation with the British counterpart that while Iran does not seek increased tension, it will respond instantly and more strongly if Israel retaliates. This statement was reported by Reuters, citing state media.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:37 pm

Israeli Defense Minister Yoav Gallant informed U.S. Defense Secretary Lloyd Austin that Israel must retaliate against Iran's missile and drone attack. The Biden administration, along with Western allies, urges restraint to avoid regional war. Iran's attack was in response to an Israeli airstrike in Syria. Most missiles and drones were intercepted by international forces. The U.S. emphasizes the need to avoid escalation while supporting Israel's defense.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:36 pm

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