CORRECTION: USA Gasoline Inventories A Draw Of 0.945M Vs A Draw Of 1.600M Est.; Draw Of 0.235M Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on USA gasoline inventories shows a draw of 0.945 million barrels, which is less than the expected draw of 1.600 million barrels and the prior draw of 0.235 million barrels.
May 22, 2024 | 2:30 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience minor fluctuations due to the lower-than-expected draw in gasoline inventories, which could indicate weaker demand or higher supply.
The SPY ETF, which tracks the S&P 500, could be influenced by changes in the energy sector. However, the impact is likely to be minor as the draw is still a reduction in inventories.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The United States Natural Gas Fund (UNG) is unlikely to be directly impacted by the gasoline inventory report, as it focuses on natural gas rather than gasoline.
UNG focuses on natural gas, and the gasoline inventory report does not directly affect natural gas prices or demand.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10