USA Gasoline Inventories Draw Of 0.207M Vs Draw Of 0.369M Est.; A Draw Of 2.053M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories reported a draw of 0.207 million barrels, lower than the estimated draw of 0.369 million barrels and the prior draw of 2.053 million barrels.
June 01, 2023 | 3:05 pm
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NEUTRAL IMPACT
Lower-than-expected gasoline inventory draw may have a neutral impact on SPY as it reflects mixed signals for the energy sector.
The lower-than-expected draw in gasoline inventories indicates a weaker demand for gasoline, which may have a neutral impact on the energy sector. As SPY is a broad market ETF, the impact on the energy sector may not significantly affect its overall performance.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The lower-than-expected gasoline inventory draw may have a neutral impact on UNG as it is focused on natural gas and not directly affected by gasoline inventories.
UNG is an ETF focused on natural gas, and its performance is not directly affected by gasoline inventories. The lower-than-expected draw in gasoline inventories may have a neutral impact on UNG as it reflects mixed signals for the broader energy sector but does not directly impact natural gas.
CONFIDENCE 80
IMPORTANCE 25
RELEVANCE 25