USA Gasoline Inventories A Draw Of 1.313M Vs A Draw Of 0.800M Est.; Build Of 6.481M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories have seen a draw of 1.313M, which is higher than the estimated draw of 0.800M. This follows a build of 6.481M in the prior period.
October 12, 2023 | 3:00 pm
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The higher than expected draw in gasoline inventories could potentially impact the United States Oil Fund (USO), as it indicates a higher demand for gasoline.
Gasoline inventories are a key indicator of supply and demand dynamics in the oil market. A higher than expected draw indicates stronger demand, which could potentially lead to higher oil prices. This could positively impact the United States Oil Fund (USO), which tracks the price of oil.
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