$112.02
-2.85 (-2.48%)
USO News30 articles
AI and Chip Stocks Tumble, Nasdaq Falls While Dow Holds Steady
AI and chip stocks led a broad selloff on Tuesday, with the Nasdaq dropping 1.42% as Nvidia fell 3% and the Philadelphia SE Semiconductor Index tumbled 7.3%, while the Dow edged up 0.02%.
Oil Prices Decline as US Waiver Eases Iran Supply Fears
Oil prices slid for a second day as a US waiver on Iranian oil sales and resumed Strait of Hormuz tanker traffic eased supply fears.
XRP Struggles at $1.16 as Leveraged Bets Hit Record Levels
XRP trades near $1.16 with open interest hitting $2.7B, nearly double spot turnover, as ETF inflows offer support but rising leverage and Friday's futures expiry heighten risk of sharp price swings.
Hedge Funds Pile on Brent Shorts as Iran Talks Fuel Supply Fears
Brent crude plunged nearly 4% to $79.10 as hedge funds built the largest short position since the pandemic, betting on increased supply from revived U.S.-Iran talks.
US Futures Dip as Treasury Yields Rise, PCE Inflation Report Looms
U.S. stock futures edged lower on Monday as rising Treasury yields and Thursday's PCE inflation report outweighed relief from falling oil prices, narrowing the AI premium.
Diplomacy and AI Demand Drive Market Shifts
Progress in US-Iran talks lowers oil prices, while AI demand lifts SK Hynix past Samsung. Markets await Micron earnings and PCE inflation data.
U.S. Mortgage Rates Dip to 6.47% on Iran Deal Hopes, But Fed and Hormuz Risks Loom
U.S. mortgage rates dropped to 6.47% amid a tentative Iran deal, but the Fed's inflation stance and Hormuz tensions pose upside risks.
Energy Stocks on Edge as Strait of Hormuz Closure Roils Markets
The Energy Select Sector SPDR Fund fell 6.6% as Iran's Strait of Hormuz blockade halted tanker traffic. U.S. energy stocks like Exxon Mobil, Chevron, and ConocoPhillips face potential swings when markets reopen Monday.
Pennsylvania Gas Prices Slide Ahead of July Fourth, Still Above National Average
Pennsylvania gas prices fell 53.5 cents to $4.109/gallon ahead of July Fourth, but remain 74 cents above last year and 16 cents above the national average, according to AAA data.
Dow Halts for Juneteenth as Tech Rally Widens Weekly Gap
U.S. stock markets closed Friday for Juneteenth, with the Dow at 51,564.70, up 0.14% Thursday. Next week's May PCE inflation data and Micron earnings are key tests for Fed policy and the AI rally.
Exxon Mobil Slides 6% as Oil's War Premium Fades
Exxon Mobil shares slid 6.3% for the week to $137.81 as Brent crude dropped 8% on improved Strait of Hormuz flows and easing war risk, despite a Bank of America upgrade to Buy and a new LNG deal in South Africa.
Strait of Hormuz Reopens, Oil Prices Tumble as Supply Fears Ease
Oil prices plunged nearly 10% this week as tanker traffic resumed through the Strait of Hormuz after a US-Iran interim deal, but analysts caution that risks remain.
Dow Closes Holiday Week with Modest Gain, Eyes on Micron and Fed
U.S. markets closed for Juneteenth. The Dow posted a weekly gain, but tech stocks led as investors look to Micron earnings and Fed comments.
Wall Street Halts for Juneteenth After Chip Rally; Fed and Micron Earnings Loom
US stocks paused for Juneteenth after a chip-led rally pushed the S&P 500 to a record close, but investors brace for Fed hawkishness and key earnings from Micron next week.
Wall Street Rebounds on Chip Surge, Iran Deal; Fed Risks Remain
U.S. stocks ended higher Thursday as chip stocks surged on an Apple-Intel deal and an interim U.S.-Iran deal eased inflation worries, though Fed rate hike risks remain.
Bank of England Holds Rate at 3.75% as Energy Shock Eases, Inflation Concerns Linger
The Bank of England kept rates unchanged at 3.75%, with two policymakers favoring a quarter-point rise. Inflation is projected to climb above 3.25% by year-end, delaying any rate cut.
American Airlines Gains on Lower Oil as Fuel Risk Eases
American Airlines shares surged 6.7% to $15.99 over the Juneteenth-shortened week as lower oil prices eased jet fuel cost fears, outpacing peers.
Saudi Aramco Plans Global Oil Storage Expansion After Hormuz Disruption
Saudi Aramco is considering expanding its global oil storage network after the Iran war disrupted Strait of Hormuz flows, with Chairman Yasir Al-Rumayyan emphasizing that supply security now requires more than spare capacity.
VIX Tumbles as US-Iran Truce Eases Oil Fears, But Political Risk Persists
The VIX dropped 11% to 16.40 as the US-Iran deal eased oil and inflation fears, but canceled talks in Switzerland keep political risk in focus.
Transocean Shares Slide 5.9% as Oil Price Drop Overshadows $185M Contract Backlog
Transocean shares tumbled 5.9% to $5.25 as oil prices fell on a US-Iran deal to reopen the Strait of Hormuz, overshadowing $185 million in new contract backlog.
Dow Edges Higher on Tech Rally, Falling Oil Prices Ease Inflation Fears
The Dow closed up 131 points as semiconductor stocks rallied on Intel's record high and lower oil prices eased inflation concerns, though Fed uncertainty lingered.
Tech Rally Lifts Wall Street; Chip Stocks Surge on Apple-Intel Deal
U.S. stocks rose Thursday, powered by a semiconductor rally after Trump announced an Apple-Intel chip partnership. The Nasdaq climbed 1.48% as oil prices dropped, easing inflation concerns. Markets are closed Friday for Juneteenth.
Mortgage rates dip on Iran deal, but Fed stance limits relief
U.S. mortgage rates edged lower on the Iran deal but the Fed's cautious stance limits further drops, offering homebuyers only modest savings.
Gas Dips Below $4 as Iran Deal Eases Oil Supply Fears
U.S. gasoline prices dipped below $4 a gallon Thursday after a U.S.-Iran interim deal to reopen the Strait of Hormuz, triggering a 2.33% drop in Brent crude and 2.46% in WTI; analysts warn relief may be slow as shipping risks and stalled production could delay full oil flow recovery for months.
Chip Stocks Rally on Apple-Intel Deal, Oil Drop Offsets Fed Hawkish Tone
Chip stocks rallied on Apple-Intel partnership news, lifting the Nasdaq 1.04%. Oil prices slid after a US-Iran deal, offsetting the Fed's hawkish signals.
Dow Rises on Chip Rally as Oil Slips; Fed Rate Outlook Clouds Gains
The Dow gained 0.39% as chip stocks rallied on Intel's Apple deal and oil prices fell, but Fed rate concerns lingered with a 50% chance of a September hike.
XRP Breaches $1.20 Support as Hawkish Fed Lifts Dollar
XRP dropped below $1.20 support to $1.17 after the Fed's hawkish stance boosted the dollar, triggering selling and underperformance versus Bitcoin and Ether.
Dow Futures Gain as Oil Slips; Fed Rate Hike Odds Rise
Dow futures advanced Thursday, buoyed by falling oil prices and a surge in chip stocks, while traders increased bets on a September Fed rate hike following steady rates and robust retail sales data.
Oil Plunges as US-Iran Deal Reopens Hormuz, Gas Relief Slow
Oil prices dropped sharply after the US-Iran interim deal reopened the Strait of Hormuz, but tight gasoline inventories may delay relief at the pump.
Oil Prices Slide on US-Iran Deal, Pump Relief Delayed
Oil prices fell sharply as the US and Iran reached an interim agreement to end the war and reopen the Strait of Hormuz, though tight inventories mean cheaper gas won't arrive immediately.