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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Oil prices are declining as OPEC reduces its global oil-demand growth forecasts for 2024 and 2025.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 3:37 pm

The article discusses the unexpected performance of long bonds, particularly the 20+ year Treasury bond ETF (TLT), and the implications of the current earnings season for AI. It highlights the positive money flows in major tech stocks and ETFs, and the impact of China's lack of new economic stimulus on foreign and local investors. The article also provides investment strategies, emphasizing the importance of protection bands and the traditional 60/40 portfolio approach.

Portfolio Pulse from The Arora Report

October 14, 2024 | 3:34 pm

OPEC has revised its global oil-demand growth forecasts for 2024 and 2025, lowering them slightly. The organization maintains its global economic growth forecasts for the same years but has slightly increased the U.S. economic growth forecast for 2024.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 3:07 pm

China's Foreign Minister expressed willingness to resume exchanges with Israel as the situation eases, according to state media.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 2:26 pm

China's Foreign Minister has urged for an immediate, complete, and permanent ceasefire in Gaza and the release of all hostages during phone talks with the Israeli Foreign Minister.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 2:12 pm

U.S. markets closed positively with financial stocks leading gains after major banks reported strong earnings. JPMorgan, Wells Fargo, and BlackRock exceeded profit expectations, boosting the S&P Financials index. This, along with favorable inflation data, raised hopes for a potential Federal Reserve rate cut in November. Meanwhile, oil prices fell due to demand concerns, and the U.S. dollar strengthened.

Portfolio Pulse from Akanksha Bakshi

October 14, 2024 | 10:50 am

Geopolitical tensions involving a potential Israeli attack on Iranian oil facilities could significantly impact global oil prices. Such an event could lead to substantial price increases due to disruptions in Iranian oil exports. Oil ETFs showed mixed activity in response to these tensions.

Portfolio Pulse from Pooja Rajkumari

October 14, 2024 | 10:01 am

The U.S. Treasury Department has imposed new sanctions on Iran's petroleum and petrochemical sectors following Iran's attack on Israel. These sanctions aim to cut off revenue for Iran's destabilizing activities. Despite the sanctions, crude oil prices remained stable, with WTI light crude slightly down.

Portfolio Pulse from Piero Cingari

October 11, 2024 | 7:59 pm

The U.S. Treasury Department has expanded targeted sanctions on Iran's petroleum and petrochemical sectors in response to an attack on Israel. This move could impact global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 6:35 pm

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