USA Gasoline Inventories A Draw Of 1.538M Vs A Build Of 0.200M Est.; Build Of 0.069M Prior
Portfolio Pulse from Benzinga Newsdesk
The latest data shows a draw in US gasoline inventories of 1.538 million barrels, contrary to the expected build of 0.200 million barrels and the prior build of 0.069 million barrels. This unexpected draw could impact energy markets and related ETFs.
September 25, 2024 | 2:31 pm
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POSITIVE IMPACT
The unexpected draw in gasoline inventories may lead to increased energy prices, potentially impacting the SPY ETF, which includes energy sector stocks.
SPY includes energy sector stocks, which may benefit from higher energy prices due to the draw in gasoline inventories.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
While UNG is focused on natural gas, the draw in gasoline inventories may indirectly affect energy markets, potentially influencing UNG's performance.
UNG is primarily related to natural gas, but changes in energy market dynamics due to gasoline inventory draws could have indirect effects.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30