USA Natural Gas Storage 16B Vs 19B Est.; 41B Prior
Portfolio Pulse from Happy Mohamed
The USA Natural Gas Storage reported a 16B figure, which is lower than the estimated 19B and the prior figure of 41B.
July 27, 2023 | 2:30 pm
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NEUTRAL IMPACT
The lower than expected natural gas storage could indirectly affect SPY as it reflects the overall market performance.
SPY, being a broad market ETF, could be indirectly affected by the lower than expected natural gas storage as it reflects the overall market performance. However, the impact is not direct and thus the score is neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The lower than expected natural gas storage could directly impact UNG, a natural gas ETF.
UNG, being a natural gas ETF, could be directly impacted by the lower than expected natural gas storage. The lower storage could indicate a potential supply shortage, which could drive up natural gas prices and thus UNG's value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100