EIA Weekly Distillates Stocks A Build Of 1.267M Vs A Build Of 1.526M Est.; Build Of 5.217M Prior
Portfolio Pulse from Benzinga Newsdesk
The EIA reported a weekly build in distillates stocks of 1.267 million barrels, compared to the estimated build of 1.526 million barrels and the prior week's build of 5.217 million barrels.
December 06, 2023 | 3:31 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience indirect impact due to the EIA's report of a smaller-than-expected build in distillates stocks, which could influence energy sector components.
The EIA report on distillates stocks can affect oil prices, which in turn may impact energy stocks within the SPY ETF. However, the SPY is diversified across many sectors, so the overall impact on the ETF may be muted.
CONFIDENCE 75
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RELEVANCE 50