USA Gasoline Inventories A Build Of 4.913M Vs A Build Of 2.300M Est.; Build Of 3.083M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories saw a significant increase with a build of 4.913 million barrels, surpassing the estimated build of 2.3 million barrels and the prior build of 3.083 million barrels. This unexpected rise in gasoline inventories could suggest lower demand or higher production levels, potentially impacting energy sector stocks and ETFs.
January 24, 2024 | 3:30 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience indirect impact due to the build in gasoline inventories, as energy sector stocks within the S&P 500 could react to these changes.
While SPY is diversified across various sectors, a significant change in gasoline inventories can affect energy sector stocks within the ETF. However, the overall impact on SPY may be muted due to its broad exposure.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
The United States Natural Gas Fund, LP (UNG) is not directly related to gasoline inventories, but movements in the overall energy market can sometimes influence natural gas prices and UNG's performance.
UNG focuses on natural gas, which is different from gasoline. However, broad energy market trends can occasionally lead to correlated movements across different energy commodities.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30