EIA Weekly Distillates Stocks A Build Of 1.235M Vs A Build Of 0.189M Est.; Build Of 0.945M Prior
Portfolio Pulse from Happy Mohamed
The Energy Information Administration (EIA) reported a build of 1.235 million in weekly distillates stocks, compared to an estimated build of 0.189 million and a prior build of 0.945 million.
August 30, 2023 | 2:31 pm
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NEUTRAL IMPACT
The SPY ETF, which includes energy sector stocks, may be impacted by the higher than expected build in distillates stocks.
The SPY ETF includes energy sector stocks. A higher than expected build in distillates stocks could impact the energy sector and therefore the SPY ETF. However, the exact impact is uncertain and depends on other factors as well.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The UNG ETF, which tracks natural gas futures, is not directly impacted by the build in distillates stocks.
The UNG ETF tracks natural gas futures, not distillates stocks. Therefore, a build in distillates stocks does not directly impact the UNG ETF.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The USO ETF, which tracks oil futures, may be indirectly impacted by the build in distillates stocks.
The USO ETF tracks oil futures. A build in distillates stocks could indirectly impact oil prices and therefore the USO ETF. However, the exact impact is uncertain and depends on other factors as well.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50