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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Stocks opened higher despite rising tensions in the Middle East, with major indices showing gains. Oil prices dipped, reflected in a decrease in USO. Tesla's stock fell following reports of upcoming layoffs.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:02 pm

Russia has successfully restored some of its primary oil refining units that were damaged by Ukrainian drone attacks, according to Reuters. This development could have implications for global oil supply dynamics and potentially influence oil prices.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:56 am

A United Airlines flight from Newark, NJ to Tel Aviv scheduled for today has been canceled, as indicated by the flight tracker information.

Portfolio Pulse from Charles Gross

April 14, 2024 | 3:27 pm

Iran has initiated its first wave of ballistic missile attacks against Israel, according to a report by Reuters, which cited Iran's state news agency as the source.

Portfolio Pulse from Charles Gross

April 13, 2024 | 10:33 pm

Iran's military action was a response to the Zionist regime's aggression against Iranian diplomatic premises in Damascus, indicating the matter is now concluded.

Portfolio Pulse from Charles Gross

April 13, 2024 | 10:27 pm

Iranian commandos seized an Israeli-linked ship near the Strait of Hormuz, according to the UK Telegraph citing Iran state media. This incident could escalate tensions in the region, potentially affecting global oil supply routes and market stability.

Portfolio Pulse from Charles Gross

April 13, 2024 | 11:37 am

Stocks declined due to uncertainty over potential rate cuts, while oil prices rose amid tensions in the Middle East, and gold prices continued to increase. The SPDR S&P 500 ETF Trust (SPY), United States Oil Fund (USO), and SPDR Gold Shares (GLD) are directly mentioned in relation to these market movements.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:12 pm

The latest U.S. Baker Hughes report shows a decrease in oil and gas rig counts, with oil rigs down by 2 to 506 and gas rigs down by 1. The total rig count now stands at 617, indicating a slight reduction in drilling activity.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 5:05 pm

Russia and the IAEA have discussed sharing power from Russian-controlled nuclear plants with free areas of Ukraine. Meanwhile, Ukraine and Russia have exchanged accusations over recent drone attacks on a nuclear plant. Officials and experts have raised concerns that Russia's attempts to restart reactors could lead to accidents.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:37 pm

Iran has warned the U.S. through messages conveyed by several Arab countries that U.S. forces in the region will be attacked if the U.S. intervenes in the conflict between Israel and Iran. This comes after an Israeli airstrike killed a top Iranian general in Damascus, prompting threats of retaliation from Iran. The U.S. has offered full support to Israel against potential Iranian attacks, with U.S. officials and the Secretary of Defense communicating closely with Israeli counterparts. Iran's messages have varied in tone, with some communications suggesting a limited response aimed at avoiding regional escalation. U.S. officials are coordinating with regional partners and Israel to prevent escalation, while the U.S. CENTCOM commander is in Israel to coordinate defensive efforts.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:55 pm

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