Natural Gas Storage A Build Of 74B Vs 80B Estimate, 97B Prior
Portfolio Pulse from Benzinga Newsdesk
The build of natural gas storage was reported at 74B, lower than the estimated 80B and the prior 97B. This indicates a lower supply than expected, which could potentially impact the price of natural gas and related assets.
October 26, 2023 | 2:31 pm
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POSITIVE IMPACT
The United States Natural Gas Fund (UNG) could potentially be impacted by the lower than expected build in natural gas storage. A lower supply could lead to higher natural gas prices, which could benefit UNG.
The United States Natural Gas Fund (UNG) is an exchange-traded security that is designed to track in percentage terms the movements of natural gas prices. Therefore, any significant changes in natural gas supply or demand, such as the lower than expected build in storage reported, could potentially impact the price of UNG.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100