USA Gasoline Inventories A Draw Of 2.371M Vs A Draw Of 1.097M Est.; Draw Of 1.313M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories have seen a draw of 2.371M, which is higher than the estimated draw of 1.097M and the prior draw of 1.313M.
October 18, 2023 | 2:31 pm
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POSITIVE IMPACT
The higher than expected draw in gasoline inventories may have a positive impact on USO, reflecting increased demand for oil.
USO, being an oil ETF, may be positively impacted by the higher than expected draw in gasoline inventories as it indicates increased demand for oil.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The higher than expected draw in gasoline inventories may impact SPY as it reflects the overall market.
SPY, being a broad market ETF, may be indirectly affected by the higher than expected draw in gasoline inventories. However, the direct impact is uncertain as it depends on various other market factors.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The draw in gasoline inventories is not directly related to natural gas and hence, may not have a significant impact on UNG.
UNG, being a natural gas ETF, is not directly impacted by gasoline inventories. Therefore, the draw in gasoline inventories may not have a significant impact on UNG.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 30