EIA Weekly Distillates Stocks A Build Of 0.296M Vs A Draw Of 0.473M Est.; Draw Of 1.706M Prior
Portfolio Pulse from Happy Mohamed
The Energy Information Administration (EIA) reported a build of 0.296M in weekly distillates stocks, contrasting with an estimated draw of 0.473M and a prior draw of 1.706M.
August 16, 2023 | 2:31 pm
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NEUTRAL IMPACT
The unexpected build in distillates stocks reported by EIA may impact energy sector stocks, potentially affecting the SPY ETF.
The SPY ETF includes a variety of sectors, including energy. The unexpected build in distillates stocks could impact energy stocks, which could in turn affect the SPY ETF. However, the impact may be mitigated by other sectors within the ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The unexpected build in distillates stocks reported by EIA is unlikely to have a direct impact on the UNG ETF, which is focused on natural gas.
The UNG ETF is focused on natural gas, and while the energy sector overall may be impacted by the unexpected build in distillates stocks, the direct impact on natural gas and the UNG ETF is likely to be minimal.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The unexpected build in distillates stocks reported by EIA may impact oil prices and therefore the USO ETF.
The USO ETF tracks the price of oil, and the unexpected build in distillates stocks could potentially impact oil prices. However, many factors influence oil prices, so the impact may not be direct or immediate.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70