Gasoline Inventories A Build Of 2.102M Vs Build Of 2.6M Expected
Portfolio Pulse from Benzinga Newsdesk
Gasoline inventories increased by 2.102 million barrels, which is less than the expected build of 2.6 million barrels.
June 05, 2024 | 2:32 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see a slight impact due to the lower-than-expected gasoline inventory build, which could influence energy sector stocks within the index.
The SPY ETF includes energy sector stocks, which could be influenced by changes in gasoline inventories. However, the impact is likely to be minor as the deviation from expectations is not significant.
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 data, as it focuses on natural gas rather than gasoline.
UNG tracks natural gas prices, which are not directly affected by gasoline inventory levels. Therefore, the news is not expected to have a significant impact on UNG.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20