United States Oil Fund (USO) Slides Tuesday: What's Driving the Action?
Shares of the United States Oil Fund (NYSE: USO) are trading lower Tuesday afternoon as crude prices pull back following signs of easing logistical constraints across Middle Eastern export routes.
Oil prices dropped Tuesday because shipping routes in the Middle East got easier. When oil gets cheaper, the USO fund that tracks oil prices falls too.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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