USA Natural Gas Storage 84B Vs 96B Est; 104B Prior
Portfolio Pulse from Benzinga Newsdesk
USA Natural Gas Storage reported 84B, lower than the estimated 96B and the previous 104B.
June 15, 2023 | 2:30 pm
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NEUTRAL IMPACT
The lower natural gas storage levels may have a limited impact on the broader market, represented by SPY.
While the lower natural gas storage levels may impact the energy sector, the broader market, represented by SPY, is likely to be influenced by a variety of factors. Therefore, the impact on SPY is expected to be limited.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Lower natural gas storage levels may lead to increased demand and higher prices, potentially benefiting UNG.
The lower natural gas storage levels indicate a potential increase in demand for natural gas, which could lead to higher prices. As UNG tracks the performance of natural gas, it may benefit from this situation.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80