USA Natural Gas Storage 40B Vs 49B Est.; 13B Prior
Portfolio Pulse from Benzinga Newsdesk
The latest data on USA natural gas storage shows an increase of 40 billion cubic feet, which is below the estimated 49 billion cubic feet and higher than the prior increase of 13 billion cubic feet.
September 12, 2024 | 2:30 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is unlikely to be significantly impacted by the natural gas storage data, as it is a broad market ETF.
SPY, being a broad market ETF, is not directly affected by natural gas storage data. While energy sector stocks within SPY might react, the overall impact on SPY is minimal.
CONFIDENCE 80
IMPORTANCE 10
RELEVANCE 20
NEUTRAL IMPACT
The United States Natural Gas Fund (UNG) may experience volatility due to the latest natural gas storage data showing a smaller-than-expected increase.
The United States Natural Gas Fund (UNG) is directly impacted by changes in natural gas storage levels. The reported increase of 40 billion cubic feet is below the expected 49 billion, which could lead to price fluctuations as the market adjusts to the lower-than-expected supply increase.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80