USA Gasoline Inventories A Build Of 0.603M Vs A Draw Of 0.126M Est.; Build Of 0.479M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories have seen a build of 0.603M, compared to an estimated draw of 0.126M and a prior build of 0.479M.
June 28, 2023 | 2:36 pm
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NEUTRAL IMPACT
The unexpected build in gasoline inventories may impact the energy sector and thus the SPY ETF, which includes energy companies.
The SPY ETF includes energy companies. An unexpected build in gasoline inventories could impact the profitability of these companies, and thus the value of the ETF. However, the impact is uncertain as it depends on various other factors.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The build in gasoline inventories is not directly related to natural gas and thus is unlikely to have a significant impact on the UNG ETF.
The UNG ETF tracks natural gas futures. While both gasoline and natural gas are energy commodities, they are influenced by different factors. Therefore, a build in gasoline inventories is unlikely to have a significant impact on the UNG ETF.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 30