USA Gasoline Inventories A Build Of 2.566M Vs A Build Of 0.250M Est.; A Build Of 2.102M Prior
Portfolio Pulse from Benzinga Newsdesk
USA gasoline inventories saw a significant build of 2.566 million barrels, much higher than the estimated build of 0.250 million barrels and the prior build of 2.102 million barrels. This unexpected increase in gasoline inventories could impact energy-related stocks and ETFs.
June 12, 2024 | 2:30 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience some volatility due to the unexpected build in gasoline inventories, as energy stocks are a component of the S&P 500 index.
The SPY ETF includes energy stocks, which could be affected by the unexpected build in gasoline inventories. However, the overall impact on SPY may be moderated by other sectors.
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 build, as it focuses on natural gas rather than gasoline.
UNG focuses on natural gas, not gasoline, so the build in gasoline inventories is unlikely to have a direct impact on this ETF.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10