Gasoline Inventories A Draw Of 0.003M Vs Draw Of .072M Expected
Portfolio Pulse from Benzinga Newsdesk
Gasoline inventories have seen a draw of 0.003M, which is less than the expected draw of 0.072M.
July 12, 2023 | 2:32 pm
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NEGATIVE IMPACT
The United States Oil Fund (USO) may be impacted by the less than expected draw in gasoline inventories.
The United States Oil Fund (USO) is an exchange-traded fund (ETF) that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. A less than expected draw in gasoline inventories indicates a lower demand for oil, which could lead to a decrease in oil prices and negatively impact USO.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80