USA Gasoline Inventories A Build Of 2.310M Vs A Draw Of 0.400M Est.; Build Of 0.848M Prior
Portfolio Pulse from Benzinga Newsdesk
The latest data shows a significant build in US gasoline inventories, with an increase of 2.310 million barrels compared to the expected draw of 0.400 million barrels. This contrasts with the previous build of 0.848 million barrels.
September 11, 2024 | 2:30 pm
News sentiment analysis
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NEGATIVE IMPACT
The unexpected build in gasoline inventories could indicate lower demand or higher supply, potentially impacting energy sector stocks within the SPY ETF.
SPY includes energy sector stocks, which could be negatively impacted by the unexpected build in gasoline inventories, suggesting lower demand or higher supply.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
While UNG is focused on natural gas, the build in gasoline inventories might indirectly affect energy market sentiment, potentially impacting UNG.
UNG is primarily related to natural gas, but changes in energy market sentiment due to gasoline inventory data could have a minor indirect impact.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 30