Nat-gas Pops as Short & Long-Term Synergies Align (UNG)

November 13, 2012 10:21 AM EST Send to a Friend
United States Natural Gas ETF (NYSE: UNG) opened higher on Tuesday, adding to Monday's gains on reports for cooler weather in the U.S. An EIA report later this week is expected to show gas stockpiles declined for this first time this winter, easing investor fears about a supply glut.

Natural gas is also seeing buying interest from longer-term investors betting it will continue to displace other forms of fuel as America refocuses on domestic production.

Today Clean Energy Corp. (NASDAQ: CLNE) stuck a deal to buy GE (NYSE: GE) MicroLNG plants that are meant to provide LNG to a series of fueling stations for truckers. Clean Energy is planning to build 70 of the stations this year, and plans another 150 by next year. It's shares are up 11.5 percent on the news.

UNG is higher by 3.75 percent. Natural gas futures trade above $3.70 per million btu.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Commodities, ETFs

Add Your Comment