EIA Weekly Distillates Stocks A Build Of 0.124M Vs A Build Of 0.782M Est.; Build Of 0.433M Prior
Portfolio Pulse from Happy Mohamed
The Energy Information Administration (EIA) reported a weekly build of 0.124M in distillates stocks, which is lower than the estimated build of 0.782M and the prior build of 0.433M.
June 28, 2023 | 2:36 pm
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NEUTRAL IMPACT
The lower than expected build in distillates stocks may have a neutral impact on SPY as it is a broad market ETF and not directly linked to energy stocks.
SPY is a broad market ETF and its performance is not directly linked to the performance of energy stocks. Therefore, the lower than expected build in distillates stocks may not have a significant impact on SPY.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The lower than expected build in distillates stocks may have a positive impact on UNG as it is an ETF that tracks natural gas futures.
UNG is an ETF that tracks natural gas futures. The lower than expected build in distillates stocks may indicate a higher demand for natural gas, which could positively impact UNG.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The lower than expected build in distillates stocks may have a positive impact on USO as it is an ETF that tracks oil futures.
USO is an ETF that tracks oil futures. The lower than expected build in distillates stocks may indicate a higher demand for oil, which could positively impact USO.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70