USA Natural Gas Storage 49B Vs 51B Est.; 72B Prior
Portfolio Pulse from Happy Mohamed
The USA Natural Gas Storage reported a figure of 49B, which is lower than the estimated 51B and the prior figure of 72B.
July 13, 2023 | 2:30 pm
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NEGATIVE IMPACT
The lower than expected natural gas storage could directly affect UNG, an ETF that tracks natural gas futures.
UNG, being an ETF that tracks natural gas futures, could be directly affected by the lower than expected natural gas storage. Lower storage levels could indicate lower supply, potentially leading to higher natural gas prices and impacting UNG negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The lower than expected natural gas storage could indirectly affect SPY as it reflects the overall US market, including energy sector.
SPY, being an ETF that reflects the overall US market, could be indirectly affected by the lower than expected natural gas storage. However, the impact is likely to be minimal as it is just one of many factors that influence the ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50