USA Natural Gas Storage -7B Vs 7B Est.; 60B Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on USA Natural Gas Storage showed a decrease of 7 billion cubic feet, compared to the estimated increase of 7 billion cubic feet and the prior increase of 60 billion cubic feet.
November 22, 2023 | 5:02 pm
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The unexpected decrease in natural gas storage may lead to a short-term increase in natural gas prices, potentially impacting energy sector stocks within the SPY ETF.
SPY, being a broad-based ETF, includes energy sector stocks that could benefit from higher natural gas prices due to the unexpected storage decrease. However, the impact may be moderated by SPY's diversified nature.
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