Fri, Feb 28, 8:12 PM (58 days ago)
**United States Oil Fund, LP (USO) - Summary of Financial Performance for Year Ended December 31, 2024** For the fiscal year ending December 31, 2024, USO reported a net income of $221,118,191, significantly recovering from a loss of $46,043,522 in 2023. The per share net asset value (NAV) increased to $75.45 from $66.91, reflecting a 12.76% growth year-over-year, driven by a positive market environment for crude oil. Average daily total net assets decreased to $1,317,318,881 from $1,586,716,936. USO's revenue was bolstered by realized gains of $121,123,950 on closed commodity futures and $22,162,096 on closed OTC swaps, alongside $62,865,288 in dividend income. Operating expenses amounted to $10,798,071, primarily due to management fees and brokerage commissions. Strategically, USO transitioned its investment portfolio back to primarily focus on the Benchmark Oil Futures Contract after diversifying due to market volatility in early 2020. The firm successfully navigated accountability levels and position limits imposed by exchanges, maintaining compliance. Looking forward, USO faces risks from market volatility, regulatory changes, and potential liquidity issues. However, the outlook remains cautiously optimistic as it continues to align its investment strategies with market conditions. The fund's market position may experience fluctuations due to geopolitical factors and economic conditions affecting crude oil demand and supply.