Inventory Builds, Natural Gas Futures Get Hammered
Tweet
Share
E-mail
Natural gas futures, often bought and sold using the ETF (NYSE: UNG), are getting hammered after inventory data showed a larger than expected buildup in. EIA reported that gas stocks piles increased to 61 bcf vs. a consensus of 53 bcf.
Despite the higher than expected buildup, natural gas inventories continue a downward trend vs. year-over-year and five year trends of 86 bcf and 91 bcf, respectively.
Following the data natural gas futures, which have been trending north, took a hit of nearly 4 percent intra-day.
Despite the higher than expected buildup, natural gas inventories continue a downward trend vs. year-over-year and five year trends of 86 bcf and 91 bcf, respectively.
Following the data natural gas futures, which have been trending north, took a hit of nearly 4 percent intra-day.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Natural Gas Inventory 95 bcf vs 99 bcf Expected
- Fed's Logan warns world may need to cut energy use if Hormuz stays shut
- BCA’s Ibrahim sees copper prices supported over the coming weeks
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Natural Gas InventoriesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
