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 White House has declined to comment on reports suggesting an imminent attack by Iran on Israel, labeling it a viable threat. Officials stated they are monitoring the situation very closely.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:12 pm

Russian oil and products are currently stranded on four tankers due to new Iran-related sanctions, according to Reuters citing LSEG data. This development could impact the global oil supply chain and market dynamics, potentially affecting related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 1:58 pm

The India Foreign Ministry has issued an advisory against travel to Iran and Israel for Indians until further notice, as reported by Reuters citing an official statement.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:07 pm

On Thursday, U.S. stock markets ended mostly higher, with the Nasdaq and S&P 500 seeing gains, driven by tech momentum stocks amid cooling inflation signs. U.S. producer prices and initial jobless claims both came in below expectations. Despite a drop in stocks on Wednesday due to higher-than-expected CPI data, technology stocks led gains in the S&P 500. The Dow Jones slightly declined. Asian markets were mixed, with Japan's Nikkei 225 gaining, while markets in Australia, India, China, and Hong Kong fell. European markets and commodities, including gold, silver, and crude oil, traded higher.

Portfolio Pulse from Akanksha Bakshi

April 12, 2024 | 11:03 am

Oil prices are declining due to mixed inflation data, leading to uncertainty about interest rate cuts and a murky demand outlook.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:13 pm

The stock market is showing signs of stabilization following a tamer than expected Producer Price Index (PPI) and the European Central Bank's (ECB) decision to maintain its key interest rate at 4%, with plans to cut rates in June. Positive early trade money flows were observed in major tech stocks, while mixed flows were seen in SPY and QQQ. The article also highlights aggressive buying in Bitcoin, positive gold and mixed oil trading activities, and suggests investors consider protection bands based on individual risk preferences.

Portfolio Pulse from The Arora Report

April 11, 2024 | 3:03 pm

OPEC maintains its global oil-demand growth forecasts, projecting an increase of 1.8 million barrels per day in 2025 and 2.2 million barrels per day in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:02 pm

US stock markets fell after unexpectedly high inflation data, with the S&P 500, Dow Jones, and Nasdaq all closing lower. Inflation in the US rose to 3.5% in March, impacting global markets with mixed results in Asia and Europe. Commodities saw gold trading above $2,350, while crude oil prices dropped.

Portfolio Pulse from Akanksha Bakshi

April 11, 2024 | 10:47 am

President Biden clarified that there is no ban on LNG, countering concerns in the energy sector. This statement could influence market perceptions and investment strategies related to natural gas and broader energy markets.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 5:56 pm

The U.S. and its allies anticipate imminent major missile and drone strikes by Iran and its proxies against military and government targets in Israel, as reported by Bloomberg's White House reporter Jennifer Jacobs. Civilian facilities are not expected to be targeted.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 5:37 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.