USA Natural Gas Storage 35B Vs 34B Est.; 29B Prior
Portfolio Pulse from Happy Mohamed
The USA Natural Gas Storage reported a figure of 35B, slightly higher than the estimated 34B and significantly higher than the prior figure of 29B.
August 17, 2023 | 2:30 pm
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NEGATIVE IMPACT
The UNG ETF, which tracks natural gas futures, may be directly impacted by the higher than expected natural gas storage figures.
The UNG ETF directly tracks natural gas futures. Higher than expected natural gas storage figures indicate a potential oversupply, which could lead to a decrease in natural gas prices and negatively impact the UNG ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The SPY ETF, which has exposure to energy sector, may be indirectly affected by the higher than expected natural gas storage figures.
The SPY ETF has exposure to the energy sector, including natural gas. While the ETF is not directly linked to natural gas storage figures, higher than expected figures could influence the energy sector and thus have an indirect impact on the ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50