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Today, the United States Oil Fund, LP (NYSE Arca: NYSE:USO), a commodity exchange-traded product with a market capitalization of $1.35 billion, disclosed its monthly financial statement for December 2024, as mandated by the Commodity Exchange Act. This latest financial disclosure, as per the Form 8-K filed with the Securities and Exchange Commission (SEC), includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value for the fund.
The United States Oil Fund, which operates as a limited partnership, is primarily invested in futures contracts for petroleum, diesel, and heating oil, as well as other petroleum-based fuels. According to InvestingPro data, the fund maintains strong liquidity with a current ratio of 68.83, though it has not been profitable over the last twelve months. The financial statement indicates the performance and financial position of the fund at the end of the previous month, providing investors with updated information on income, expenses, and net asset value.
The fund has shown positive momentum with a 4.38% year-to-date return and is currently trading near its 52-week high of $84.58. InvestingPro subscribers have access to additional financial health metrics and exclusive insights, with multiple ProTips available for deeper analysis. This action by the United States Oil Fund complies with the regulatory requirements to provide transparency and regular updates about its financial status.
The United States Oil Fund’s general partner, United States Commodity Funds LLC, ensured that the report was signed by Stuart P. Crumbaugh, the Chief Financial Officer, fulfilling the SEC’s requirements for reporting.
In other recent news, the United States Oil Fund (USO) disclosed its monthly financial statements for November, October, and September 2024. The fund reported a year-to-date return of 9.72% for November, while maintaining strong liquidity with a current ratio of 68.83. However, the fund experienced a revenue decline of 138.27% over the last twelve months, emphasizing the volatile nature of commodity markets. These regular disclosures aim to provide transparency to investors regarding the fund’s financial status.
In related developments, Roth/MKM revised their West Texas Intermediate crude oil price forecast for 2024 upward by 6% to $82 per barrel. Goldman Sachs strategists also noted the positive influence of a 16% year-to-date increase in Brent crude oil prices on the energy sector’s performance. Furthermore, Colorado State University anticipates an "extremely active" Atlantic hurricane season for 2024, which could potentially impact energy companies operating in the U.S. Gulf of Mexico.
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