USA Crude Oil Inventories A Build Of 0.774M Vs A Build Of 1.261M Est.; Build Of 1.371M Prior
Portfolio Pulse from Benzinga Newsdesk
USA crude oil inventories have seen a build of 0.774M, which is lower than the estimated build of 1.261M and the prior build of 1.371M.
November 01, 2023 | 2:30 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The lower than expected build in crude oil inventories may have a neutral impact on SPY as it is a broad market ETF and not directly linked to oil prices.
SPY is a broad market ETF and its performance is not directly linked to oil prices or inventories. Therefore, the lower than expected build in crude oil inventories may not have a significant impact on SPY.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The lower than expected build in crude oil inventories may have a positive impact on USO as it is directly linked to oil prices.
USO is an ETF that tracks the performance of crude oil. A lower than expected build in inventories could indicate higher demand or lower supply, which could push oil prices up and positively impact USO.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100