USA Gasoline Inventories A Draw Of 0.214M Vs A Draw Of 0.933M Est.; Build Of 1.467M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories have reported a draw of 0.214M, which is less than the estimated draw of 0.933M. This follows a build of 1.467M in the prior period.
August 30, 2023 | 2:32 pm
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NEGATIVE IMPACT
The smaller draw in gasoline inventories may have a neutral to negative impact on UNG as it is a natural gas ETF and may be indirectly affected by energy market dynamics.
UNG is a natural gas ETF and while it's not directly tied to gasoline inventories, it can be indirectly affected by overall energy market dynamics. Therefore, the smaller draw in gasoline inventories could potentially have a neutral to negative impact on UNG.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
The smaller draw in gasoline inventories may have a negative impact on USO as it is an oil ETF and directly affected by energy market dynamics.
USO is an oil ETF and is directly affected by energy market dynamics, including gasoline inventories. Therefore, the smaller draw in gasoline inventories could potentially have a negative impact on USO.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
The smaller draw in gasoline inventories may have a neutral impact on SPY as it is a broad market ETF and not specifically tied to energy markets.
SPY is a broad market ETF and its performance is not directly tied to the energy sector or gasoline inventories. Therefore, the impact of this news is expected to be neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50