EIA Weekly Distillates Stocks A Draw Of 1.269M Vs A Draw Of 0.333M Est.; Build Of 0.398M Prior
Portfolio Pulse from Benzinga Newsdesk
The Energy Information Administration (EIA) reported a draw of 1.269 million barrels in weekly distillates stocks, compared to an estimated draw of 0.333 million barrels and a build of 0.398 million barrels in the previous week.
October 04, 2023 | 2:30 pm
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NEUTRAL IMPACT
The SPY ETF, which has exposure to energy sector, may be impacted by the higher than expected draw in distillates stocks.
The SPY ETF has exposure to the energy sector. The higher than expected draw in distillates stocks indicates a higher demand or lower supply, which could impact the energy sector and hence the SPY ETF. However, the impact is uncertain as it depends on various other factors.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The UNG ETF, which tracks natural gas futures, is not directly impacted by the draw in distillates stocks.
The UNG ETF tracks natural gas futures and is not directly impacted by the draw in distillates stocks, which are related to oil. Therefore, the news 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 higher than expected draw in distillates stocks.
The USO ETF tracks oil futures. The higher than expected draw in distillates stocks indicates a higher demand or lower supply, which could impact oil prices and hence the USO ETF. However, the impact is uncertain as it depends on various other factors.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70