USA Gasoline Inventories A Draw Of 2.661M Vs A Draw Of 0.008M Est.; Build Of 1.480M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories have seen a draw of 2.661M, compared to an estimated draw of 0.008M and a prior build of 1.480M.
August 09, 2023 | 2:30 pm
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NEUTRAL IMPACT
The significant draw in gasoline inventories may impact the SPY ETF, which has exposure to the energy sector.
The SPY ETF has exposure to the energy sector. Therefore, significant changes in gasoline inventories, which can affect energy prices, may have an impact on the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The draw in gasoline inventories is not directly related to natural gas and therefore is unlikely to have a significant impact on the UNG ETF.
The UNG ETF is focused on natural gas, not gasoline. Therefore, changes in gasoline inventories are unlikely to have a significant impact on the ETF's performance.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The draw in gasoline inventories may impact the USO ETF, which tracks the performance of West Texas Intermediate (WTI) crude oil.
The USO ETF tracks the performance of WTI crude oil. Therefore, significant changes in gasoline inventories, which can affect oil prices, may have an impact on the ETF's performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60