USA Natural Gas Storage 29B Vs 25B Est.; 14B Prior
Portfolio Pulse from Happy Mohamed
The USA Natural Gas Storage reported a 29B increase, which is higher than the estimated 25B and the prior 14B. This could impact ETFs like SPY and UNG.
August 10, 2023 | 2:30 pm
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NEUTRAL IMPACT
The SPY ETF could be impacted by the higher than expected increase in USA Natural Gas Storage.
The SPY ETF includes a variety of sectors, including energy. The higher than expected increase in natural gas storage could impact the energy sector and therefore the SPY ETF. However, the impact may not be significant as the ETF is diversified across many sectors.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The UNG ETF, which tracks natural gas, could be significantly impacted by the higher than expected increase in USA Natural Gas Storage.
The UNG ETF directly tracks natural gas, so the higher than expected increase in natural gas storage could have a significant impact on the ETF. However, the direction of the impact is uncertain as it depends on how the market interprets the increase in storage.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90