EIA Weekly Distillates Stocks A Build Of 0.398M Vs A Draw Of 1.298M Est.; Draw Of 2.867M Prior
Portfolio Pulse from Benzinga Newsdesk
The Energy Information Administration (EIA) reported a build of 0.398M in weekly distillates stocks, contrasting with an estimated draw of 1.298M and a prior draw of 2.867M.
September 27, 2023 | 2:30 pm
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NEUTRAL IMPACT
The unexpected build in distillates stocks reported by EIA may impact the broader market, potentially affecting SPY.
The SPY ETF tracks the S&P 500, which includes energy companies. An unexpected build in distillates stocks could impact these companies and, by extension, SPY. However, the effect may be diluted due to the diverse nature of the ETF.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The unexpected build in distillates stocks reported by EIA may impact natural gas prices, potentially affecting UNG.
The UNG ETF tracks natural gas futures. An unexpected build in distillates stocks could impact natural gas prices and, by extension, UNG. However, the correlation is not direct and other factors may also influence the price of UNG.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The unexpected build in distillates stocks reported by EIA may impact oil prices, potentially affecting USO.
The USO ETF tracks oil futures. An unexpected build in distillates stocks could impact oil prices and, by extension, USO. However, the correlation is not direct and other factors may also influence the price of USO.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50