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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G7 nations have announced their intention to respond swiftly, including with 'new and significant' measures, against Iran if it proceeds with sending ballistic missiles to Russia. This statement underscores the geopolitical tensions and the potential for escalated sanctions or actions against Iran by these nations.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 2:40 pm

The article discusses the current financial market trends, highlighting hotter Producer Price Index (PPI) data indicating higher inflation at the producer level than expected, and declining retail sales suggesting weakening consumer spending. It mentions the positive early trade money flows in several major tech companies and ETFs, while Tesla and NVIDIA experience negative flows. The International Energy Agency predicts an oil supply deficit throughout 2024, contrary to previous surplus expectations. The article advises investors to consider a more defensive position within the protection band to balance market crosscurrents.

Portfolio Pulse from The Arora Report

March 14, 2024 | 4:47 pm

U.S. markets closed mixed with the S&P 500 and Nasdaq declining, while Asian markets showed mixed results and European markets trended upwards. Economic data revealed a 7.1% increase in U.S. mortgage applications. The energy, materials, and utilities sectors led gains in the S&P 500, whereas information technology and real estate sectors underperformed. Crude Oil WTI and Brent both saw increases, trading above $80. Commodities and futures also experienced varied movements.

Portfolio Pulse from Akanksha Bakshi

March 14, 2024 | 11:11 am

The International Energy Agency (IEA) forecasts a decrease in global oil production by 870,000 barrels per day (B/D) in Q1 2024 compared to Q4 2023, while anticipating a rise in global oil demand by 1.7 million B/D during the same period.

Portfolio Pulse from Charles Gross

March 14, 2024 | 9:06 am

Oil prices have increased following a reported decrease in US crude oil inventories, indicating a potential rise in demand or a drop in supply.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:10 pm

The article discusses the impact of AI frenzy and gamma squeeze on the stock market, overpowering concerns about inflation. It highlights the strong performance of Invesco QQQ Trust Series 1 (QQQ) and NVIDIA Corp (NVDA) due to Oracle Corp's (ORCL) earnings indicating high demand for NVIDIA chips. It also notes the mixed money flows in major tech stocks and ETFs, and the momo crowd's shift from Tesla Inc (TSLA) to NVDA. Additionally, it mentions the positive outlook for oil based on API crude inventory data.

Portfolio Pulse from The Arora Report

March 13, 2024 | 3:44 pm

The EIA reported a weekly distillates stock build of 0.888 million barrels, contrasting with the expected draw of 0.150 million barrels and the previous week's draw of 4.131 million barrels.

Portfolio Pulse from Happy Mohamed

March 13, 2024 | 2:30 pm

The latest report on USA crude oil inventories showed a draw of 1.536 million barrels, contrasting with the expected build of 0.900 million barrels and the previous build of 1.367 million barrels. This indicates a decrease in crude oil inventories, contrary to expectations and the prior period's increase.

Portfolio Pulse from Happy Mohamed

March 13, 2024 | 2:30 pm

U.S. markets closed higher with the S&P 500 hitting a record high, driven by Oracle's rally and positive consumer price data. Oracle announced a collaboration with Nvidia, boosting their shares. Asian markets saw mixed results, while European markets and commodities, especially crude oil, traded higher. Economic data showed a rise in inflation to 3.2% year-over-year in February 2024.

Portfolio Pulse from Akanksha Bakshi

March 13, 2024 | 11:22 am

The latest USA API Weekly Crude Oil Stock report indicates a significant draw of 5.521 million barrels, contrasting with the previous estimate of a 0.400 million barrel build and a prior build of 0.423 million barrels.

Portfolio Pulse from Happy Mohamed

March 12, 2024 | 8:33 pm

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