Gasoline Inventories 5.56M Build vs 237K Build Est.
Portfolio Pulse from Benzinga Newsdesk
The gasoline inventories have seen a significant increase of 5.56 million, far exceeding the estimated build of 237K. This could potentially impact the United States Oil Fund (USO).
September 13, 2023 | 2:31 pm
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The United States Oil Fund (USO) could be impacted by the significant increase in gasoline inventories, which far exceeded estimates.
The United States Oil Fund (USO) is an exchange-traded fund (ETF) that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. A significant increase in gasoline inventories indicates an oversupply in the market, which could potentially lead to a decrease in oil prices. This could negatively impact the performance of USO.
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