Gasoline Inventories A Draw Of 2.28M Vs A Build Of 1.5M Expected
Portfolio Pulse from Benzinga Newsdesk
Gasoline inventories saw a draw of 2.28 million barrels, contrary to the expected build of 1.5 million barrels. This unexpected draw could impact the prices of oil-related assets.
June 20, 2024 | 3:00 pm
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POSITIVE IMPACT
The United States Oil Fund (USO) is likely to see a positive impact due to the unexpected draw in gasoline inventories, which could lead to higher oil prices.
The draw in gasoline inventories suggests a higher demand or lower supply than expected, which typically leads to higher oil prices. As USO tracks the price of oil, it is likely to benefit from this news.
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