USA Gasoline Inventories A Build Of 0.065M Vs A Draw Of 0.803M Est.; Build Of 0.156M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories have seen a build of 0.065M, compared to an estimated draw of 0.803M and a prior build of 0.156M.
November 01, 2023 | 2:32 pm
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NEGATIVE IMPACT
The unexpected build in gasoline inventories may negatively impact the USO ETF, which tracks the price of oil.
The USO ETF tracks the price of oil. An unexpected build in gasoline inventories may indicate lower demand for oil, potentially negatively impacting the ETF.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 75
NEUTRAL IMPACT
The unexpected build in gasoline inventories may impact the energy sector and thus the SPY ETF, which includes energy companies.
The SPY ETF includes energy companies. An unexpected build in gasoline inventories may impact the energy sector and thus the ETF. However, the impact may be mitigated by other factors affecting the ETF.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The build in gasoline inventories is unlikely to have a direct impact on the UNG ETF, which is focused on natural gas.
The UNG ETF is focused on natural gas, not gasoline. Therefore, a build in gasoline inventories is unlikely to have a direct impact on the ETF.
CONFIDENCE 90
IMPORTANCE 25
RELEVANCE 25