USA Natural Gas Storage 90B Vs 88B Est.; 64B Prior
Portfolio Pulse from Benzinga Newsdesk
USA Natural Gas Storage reported a figure of 90B, which is higher than the estimated 88B and the prior figure of 64B.
September 28, 2023 | 2:33 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The higher than expected natural gas storage could potentially impact UNG, a natural gas ETF, negatively due to increased supply.
UNG is a natural gas ETF and is directly linked to natural gas storage figures. Increased storage implies increased supply which could potentially lead to a decrease in natural gas prices, negatively impacting UNG.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The higher than expected natural gas storage may not have a direct impact on SPY as it is a broad-based ETF.
SPY is a broad-based ETF and is not directly linked to natural gas storage figures. Therefore, the impact is expected to be minimal.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
The higher than expected natural gas storage may not have a direct impact on USO as it is an oil-focused ETF.
USO is an oil-focused ETF and is not directly linked to natural gas storage figures. Therefore, the impact is expected to be minimal.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20