USA Natural Gas Storage 110B Vs 113B Est.; 96B Prior
Portfolio Pulse from Happy Mohamed
USA Natural Gas Storage reported 110B, lower than the estimated 113B and higher than the prior 96B.
June 01, 2023 | 2:30 pm
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NEUTRAL IMPACT
USA Natural Gas Storage reported 110B, lower than the estimated 113B, but the impact on SPY is expected to be minimal.
The lower than estimated storage levels may have a minimal impact on SPY, as it is a broad market index and not solely focused on the energy sector. The impact is likely to be limited and short-lived.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
USA Natural Gas Storage reported 110B, lower than the estimated 113B, potentially impacting UNG in the short term.
The lower than estimated storage levels may lead to short-term price fluctuations in UNG. However, the impact is likely to be limited as the storage levels are still higher than the prior 96B.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80