USA Gasoline Inventories A Build Of 2.108M Vs A Build Of 0.637M Est.; Build Of 2.746M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories increased by 2.108 million barrels, higher than the estimated build of 0.637 million barrels and the prior build of 2.746 million barrels.
June 14, 2023 | 2:31 pm
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Higher-than-expected gasoline inventory build of 2.108M barrels may put pressure on UNG in the short term.
The higher-than-expected gasoline inventory build indicates an oversupply in the market, which could lead to lower prices for gasoline and natural gas. This may negatively impact the United States Natural Gas Fund (UNG) in the short term, as it tracks the price of natural gas.
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