Today, United States Oil Fund, LP (NYSE Arca:NYSE:USO), a commodity exchange-traded product with a market capitalization of $1.25 billion, disclosed its monthly financial statement for November 2024. The fund has delivered a 9.72% return year-to-date, according to InvestingPro data. The report, which includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, was released as part of its regulatory filings.
The document, available on the United States Oil Fund's website, details the financial activities and net asset value changes for the month ended November 30, 2024. The United States Oil Fund, known for tracking the prices of oil, provides investors with exposure to the crude oil market. InvestingPro analysis shows the fund maintains strong liquidity with a current ratio of 68.83, though its overall financial health score is rated as WEAK.
The filing, submitted to the Securities and Exchange Commission (SEC), is a requirement under Rule 4.22 of the Commodity Exchange Act for commodity pools. The United States Oil Fund operates as a limited partnership, with its general partner being United States Commodity Funds LLC.
The monthly account statement is a routine disclosure that aims to provide transparency to investors regarding the fund's financial status. It is important to note that the content of the report, including the attached exhibit, is not considered filed for regulatory purposes and is not incorporated by reference into any other filings made by the company under the Securities Act of 1933 or the Securities Exchange Act of 1934.
The United States Oil Fund's business address is in Walnut Creek, California, and it is incorporated in Delaware. The fund's fiscal year-end is December 31.
As per the SEC filing, the financial statements were signed by Stuart P. Crumbaugh, the Chief Financial Officer of United States Commodity Funds LLC, on December 27, 2024. The release of this financial data follows standard practice for publicly traded entities and is intended to maintain regular communication with investors and the market.
With a beta of 0.65 and trading at $74.16, the fund currently sits 11% above its 52-week low of $65.48. Discover more detailed insights and real-time analytics with InvestingPro, which offers additional exclusive ProTips and comprehensive financial metrics.
This news is based on a press release statement and provides an update on the United States Oil Fund's recent financial performance.
In other recent news, the United States Oil Fund reported its monthly financial statements for October, September, and August 2024.
The reports, released in compliance with the Commodity Exchange Act Rule 4.22, offer investors insights into the fund's financial performance, including income, losses, and changes in net asset value.
According to InvestingPro, the fund experienced a revenue decline of 138.27% over the last twelve months, emphasizing the volatile nature of commodity markets.
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 (NYSE:GS) strategists also noted the positive influence of a 16% year-to-date increase in Brent crude oil prices on the energy sector's performance.
Additionally, 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.
These recent developments provide a snapshot of the United States Oil Fund's financial status and the broader energy sector. As always, investors are encouraged to review these reports and analyst notes thoroughly to keep abreast of market trends and make informed investment decisions.
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