USA Natural Gas Storage 72B Vs 64B Est.; 76B Prior
Portfolio Pulse from Happy Mohamed
The USA Natural Gas Storage reported a 72B figure, which is higher than the estimated 64B and the prior figure of 76B.
July 07, 2023 | 2:30 pm
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NEUTRAL IMPACT
The news may not have a direct impact on SPY as it is a broad-based ETF, but energy sector performance can influence it.
SPY is a broad-based ETF and not directly linked to natural gas storage figures. However, changes in the energy sector can influence the overall market and thus SPY.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEGATIVE IMPACT
The higher than expected natural gas storage figure could potentially put downward pressure on UNG, a natural gas ETF.
UNG is a natural gas ETF and is directly influenced by changes in natural gas storage figures. Higher than expected figures indicate a surplus, which could lower natural gas prices and thus UNG.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90