USA Gasoline Inventories A Build Of 1.119M Barrels Vs A Draw Of 0.500M Barrels Est.; Draw Of 1.538M Barrels Prior
Portfolio Pulse from Benzinga Newsdesk
The latest data shows a build in US gasoline inventories by 1.119 million barrels, contrary to the expected draw of 0.500 million barrels. This follows a previous draw of 1.538 million barrels.
October 02, 2024 | 2:31 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The unexpected build in gasoline inventories could indicate lower demand or higher supply, potentially impacting the broader market sentiment and SPY.
SPY, as an ETF tracking the S&P 500, could be influenced by changes in energy sector performance. An unexpected inventory build might signal weaker demand or oversupply, affecting energy stocks within the index.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
While UNG is focused on natural gas, changes in gasoline inventories can indirectly affect energy market dynamics, potentially impacting UNG.
UNG is directly related to natural gas, not gasoline. However, shifts in energy market sentiment due to gasoline inventory changes could have indirect effects on natural gas prices.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 30