USA Natural Gas Storage -55B Vs -54B Est.; -117B Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on USA Natural Gas Storage showed a decrease of 55 billion cubic feet, compared to the estimated decrease of 54 billion cubic feet and the prior decrease of 117 billion cubic feet.
December 14, 2023 | 3:30 pm
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NEUTRAL IMPACT
SPY, an ETF that tracks the S&P 500, may experience indirect impact due to changes in energy sector stocks following the natural gas storage report.
While SPY is a broad market ETF, energy stocks within the S&P 500 may react to the natural gas storage data, causing a potential but limited impact on SPY's performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
UNG, an ETF that tracks natural gas, is likely to be directly impacted by the natural gas storage report, potentially leading to increased volatility in the short term.
The United States Natural Gas Fund (UNG) is directly tied to the performance of natural gas. The report showing a higher-than-expected decrease could lead to short-term price fluctuations.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90