USA Gasoline Inventories A Build Of 3.083M Vs A Build Of 2.150M Est.; Build Of 8.029M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories saw an increase of 3.083 million barrels, surpassing the estimated build of 2.150 million barrels and the prior build of 8.029 million barrels.
January 18, 2024 | 4:10 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience indirect impact due to the build in gasoline inventories, as it reflects the broader market sentiment.
While SPY is a broad market ETF and not directly linked to gasoline inventories, significant changes in energy sector inventories can influence overall market sentiment and thus affect SPY's performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
The United States Natural Gas Fund, LP (UNG) is not directly impacted by gasoline inventories as it is focused on natural gas, which is a different energy commodity.
UNG's performance is tied to natural gas prices and market dynamics, which are separate from those of gasoline. Therefore, the build in gasoline inventories is unlikely to have a direct impact on UNG.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10