USA Gasoline Inventories A Draw Of 0.261M Vs A Draw Of 1.260M Est.; Draw Of 2.661M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories have seen a draw of 0.261M, which is less than the estimated draw of 1.260M and the prior draw of 2.661M.
August 16, 2023 | 2:32 pm
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NEUTRAL IMPACT
The lower than expected draw in gasoline inventories may have a neutral impact on SPY as it is a broad market ETF and not directly linked to energy markets.
SPY is a broad market ETF and its performance is not directly linked to the energy markets or gasoline inventories. Therefore, the impact of this news is expected to be neutral.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The lower than expected draw in gasoline inventories may have a neutral impact on UNG as it is a natural gas ETF and not directly linked to gasoline inventories.
UNG is a natural gas ETF and its performance is not directly linked to gasoline inventories. Therefore, the impact of this news is expected to be neutral.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEGATIVE IMPACT
The lower than expected draw in gasoline inventories may have a negative impact on USO as it is an oil ETF and lower draws could indicate lower demand for oil.
USO is an oil ETF and its performance is linked to the oil markets. Lower draws in gasoline inventories could indicate lower demand for oil, which could negatively impact USO.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80