EIA Weekly Distillates Stocks A Draw Of 2.867M Vs A Build Of 0.217M Est.; Build Of 3.931M Prior
Portfolio Pulse from Benzinga Newsdesk
The Energy Information Administration (EIA) reported a draw of 2.867 million in weekly distillates stocks, compared to an estimated build of 0.217 million and a prior build of 3.931 million.
September 20, 2023 | 2:30 pm
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NEUTRAL IMPACT
The SPY ETF, which has exposure to energy stocks, may be impacted by the draw in distillates stocks.
The SPY ETF has exposure to energy stocks. Therefore, changes in distillates stocks, which can influence energy prices, may impact the ETF. However, the extent of the impact will depend on other factors such as the overall market sentiment and movements in other sectors that SPY is exposed to.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The UNG ETF, which tracks natural gas futures, is not directly impacted by distillates stocks data.
The UNG ETF tracks natural gas futures, not distillates. Therefore, the draw in distillates stocks reported by the EIA is not directly relevant to UNG.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The USO ETF, which tracks oil futures, may be impacted by the draw in distillates stocks.
The USO ETF tracks oil futures. Therefore, changes in distillates stocks, which can influence oil prices, may impact the ETF. However, the extent of the impact will depend on other factors such as the overall market sentiment and movements in oil futures.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60