EIA Weekly Distillates Stocks A Draw Of 1.045M Vs A Build Of 0.296M Est.; Build Of 0.124M Prior
Portfolio Pulse from Happy Mohamed
The Energy Information Administration (EIA) reported a draw of 1.045 million barrels in weekly distillates stocks, compared to an estimated build of 0.296 million barrels and a prior build of 0.124 million barrels.
July 06, 2023 | 3:02 pm
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NEUTRAL IMPACT
The SPY ETF, which has exposure to the energy sector, may be impacted by the draw in distillates stocks.
The SPY ETF has exposure to the energy sector. The draw in distillates stocks, which is contrary to the estimated build, could influence the energy sector and thus impact the ETF. However, the extent of the impact would depend on the weightage of the energy sector in the ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The UNG ETF, which tracks natural gas futures, is not directly impacted by the draw in distillates stocks.
The UNG ETF tracks natural gas futures and is not directly impacted by the draw in distillates stocks. However, overall energy market dynamics could have an indirect influence.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The USO ETF, which tracks oil futures, may be impacted by the draw in distillates stocks.
The USO ETF tracks oil futures. The draw in distillates stocks, which is contrary to the estimated build, could influence oil prices and thus impact the ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70