United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Here’s Why

United States Oil Fund LP (NYSEARCA:USO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $132.21, but opened at $128.09. United States Oil Fund shares last traded at $128.30, with a volume of 1,430,052 shares changing hands.

More United States Oil Fund News

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: Shipping through the Strait of Hormuz remains constrained, and U.S. sanctions on Iran could still limit Iranian oil exports. Persistent uncertainty around the key waterway and Middle East supply flows may provide some support for crude and USO. Natural Gas and Oil Forecast: Hormuz Talks Offer Hope as U.S. Crude Stocks Rise
• Neutral Sentiment: U.S. commercial crude inventories posted a modest 95,000-barrel weekly increase to 428.9 million barrels. The build signals slightly softer near-term demand or ample supply, but its small size limits the market impact. U.S. Crude Oil Inventories See Modest Weekly Build
• Negative Sentiment: Oil prices retreated toward $85 per barrel as Iran and Oman held talks on a temporary shipping route through the Strait of Hormuz. A potential reopening would reduce the risk premium tied to supply disruptions and weigh on USO. Oil Falls on Easing Concerns of Renewed Tensions
• Negative Sentiment: Reports that the United States may ease environmental reviews for oil and gas exploration in Alaska’s National Petroleum Reserve could accelerate future domestic production. Greater potential supply is a longer-term headwind for oil prices and USO. US Preparing to Ease Environmental Reviews for Alaska Oil and Gas Drilling

United States Oil Fund Trading Up 1.0%

The firm has a market cap of $1.99 billion, a PE ratio of 19.22 and a beta of -0.03. The firm has a fifty day simple moving average of $120.15 and a two-hundred day simple moving average of $119.51.

Institutional Trading of United States Oil Fund

Several large investors have recently added to or reduced their stakes in USO. Parallel Advisors LLC bought a new position in United States Oil Fund in the 1st quarter worth $57,000. Raymond James Financial Inc. purchased a new position in shares of United States Oil Fund during the second quarter valued at about $38,000. PNC Financial Services Group Inc. bought a new position in United States Oil Fund in the fourth quarter worth about $48,000. Advisory Services Network LLC purchased a new stake in United States Oil Fund in the third quarter worth about $57,000. Finally, Fifth Third Bancorp lifted its holdings in United States Oil Fund by 11.6% in the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock worth $142,000 after buying an additional 116 shares during the period. Institutional investors own 67.47% of the company’s stock.

About United States Oil Fund

United States Oil Fund, LP (USO) is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of USO is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of the futures contract for light, sweet crude oil traded on the New York Mercantile Exchange, that is the near month contract to expire, except when the near month contract is within over two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire, less USO’s expenses.