Hearing API Reports Crude Oil Build Of 1.57M Barrels
Portfolio Pulse from Benzinga Newsdesk
The article reports a crude oil inventory build of 1.57 million barrels, which could impact oil prices and related ETFs.
January 22, 2020 | 9:36 pm
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The United States Oil Fund (USO), an ETF that tracks the price of oil, may be impacted by the reported crude oil build of 1.57 million barrels.
An increase in crude oil inventories typically suggests a surplus, which can lead to a decrease in oil prices. As USO tracks oil prices, its value may decrease in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80