USA Gasoline Inventories A Build Of 1.48M Vs A Draw Of 1.300M Est.; Draw Of 0.786M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories have seen a build of 1.48 million, compared to an estimated draw of 1.3 million and a prior draw of 0.786 million.
August 04, 2023 | 11:28 am
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NEGATIVE IMPACT
The unexpected build in gasoline inventories may impact the SPY ETF, which has exposure to the energy sector.
The SPY ETF has exposure to the energy sector. An unexpected build in gasoline inventories could lead to a decrease in gasoline prices, which could negatively impact energy companies and, by extension, the SPY ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The unexpected build in gasoline inventories may impact the UNG ETF, which tracks natural gas futures.
The UNG ETF tracks natural gas futures. An unexpected build in gasoline inventories could lead to a decrease in gasoline prices, which could negatively impact natural gas prices and, by extension, the UNG ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50