EIA Weekly Distillates Stocks A Build Of 125K Vs Build Of 80K Expected
Portfolio Pulse from Benzinga Newsdesk
The EIA reported a weekly build in distillate stocks of 125,000 barrels, which is higher than the expected build of 80,000 barrels. This data could impact energy-related stocks and ETFs.
September 18, 2024 | 2:31 pm
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The EIA's report of a larger-than-expected build in distillate stocks could put downward pressure on oil prices, potentially affecting the United States Oil Fund (USO).
A larger-than-expected build in distillate stocks suggests a potential oversupply in the market, which could lead to lower oil prices. As USO tracks oil prices, it may experience downward pressure.
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