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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

The U.S. Energy Information Administration has revised its forecast for world oil demand growth downwards for both 2024 and 2025. For 2024, the growth forecast has been cut by 480,000 barrels per day (bpd), now expecting a year-on-year increase of 0.95 million bpd. For 2025, the forecast has been reduced by 30,000 bpd, with a new expectation of a 1.35 million bpd year-on-year increase.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 4:07 pm

Hamas has rejected the latest ceasefire proposal from Israel, according to Hamas official Ali Baraka. This development could potentially escalate tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:44 pm

Israel's Prime Minister Netanyahu announced a date for a Rafah invasion in Gaza, signaling potential escalations in the region. This development could have implications on global markets and specific US-listed assets such as EIS, SPY, and USO.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:08 pm

Jamie Dimon, CEO of JPMorgan Chase & Co (NYSE:JPM), emphasized the transformative potential of AI, comparing its impact to major technological inventions like electricity. JPMorgan's strong performance, partly attributed to AI, highlights the broader benefits of AI beyond tech stocks. The article also notes positive early trade money flows in NVDA, AMZN, META, TSLA, SPY, and QQQ, with neutral flows in GOOG and MSFT, and negative in AAPL. Additionally, it mentions the buying of Bitcoin ETFs and the performance of gold and oil ETFs, GLD and USO.

Portfolio Pulse from The Arora Report

April 08, 2024 | 4:01 pm

U.S. stock markets ended higher on April 5th, driven by a strong jobs report, suggesting the Federal Reserve may hold off on reducing interest rates. Asian markets were mixed, with gains in Japan, Australia, and India, but declines in China. European markets rose, and gold hit a new high at $2,350. U.S. futures were slightly down in early trading.

Portfolio Pulse from Akanksha Bakshi

April 08, 2024 | 11:38 am

Iraq plans to resume oil exports to Turkey via the Kirkuk-Ceyhan pipeline, inactive for a decade, with a potential export capacity of 350,000 barrels per day. This development comes amid stalled negotiations with the Kurdistan Regional Government and could significantly impact regional oil exports and the global oil market, which is already facing tight supply and rising demand.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 11:34 am

President Biden has called on Egypt and Qatar to pressure Hamas into negotiating a hostage deal with Israel, according to a senior administration official cited by AP.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 8:13 pm

The U.S. Baker Hughes Oil Rig Count has increased by 2 to a total of 508 rigs. The total rig count, including oil and other types, now stands at 620.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 5:04 pm

Global markets experienced declines with the U.S. stock markets ending lower due to cautious statements from Federal Reserve officials and anticipation for the U.S. jobs report. The S&P 500 sectors all saw declines, particularly in technology, while defense shares gained. Asian markets also fell, notably Japan's Nikkei 225. European markets and commodities like crude oil and gold saw mixed results. U.S. futures indicated a slight uptick in early trading.

Portfolio Pulse from Akanksha Bakshi

April 05, 2024 | 10:48 am

Oil prices are experiencing an increase due to uncertainties in supply, which are attributed to rising tensions in the Middle East.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 7:57 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.