USA Natural Gas Storage 97B Vs 80B Est.; 84B Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Natural Gas Storage reported a figure of 97B, which is higher than the estimated 80B and the prior figure of 84B.

October 19, 2023 | 2:30 pm
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NEUTRAL IMPACT
The higher than expected natural gas storage could impact the energy sector stocks within the SPY ETF.
The higher than expected natural gas storage indicates a potential oversupply in the market, which could lead to lower natural gas prices. This could impact the profitability of companies in the energy sector, which are part of the SPY ETF. However, the exact impact would depend on the individual company's exposure to natural gas.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50