Natural Gas Fried as Inventory Shows Surprise Build (UNG)
Tweet
Share
E-mail
United States Natural Gas ETF (NYSE: UNG) dropped in early trading on Thursday following the release of EIA inventory data. Traders were anticipating a 9 bcf drop in inventory and were surprise to learn that stockpiles rose by 4 bcf – not a good sign considering record high storage levels.
Natural gas has been under pressure for most of the week as weather forecasts call for moderating temperatures in early December. This is seen curbing demand for natural gas used in electricity generation.
United States Natural Gas ETF (NYSE: UNG) is lower by 4 percent. Futures prices trade below $3.70 per million btu.
Natural gas has been under pressure for most of the week as weather forecasts call for moderating temperatures in early December. This is seen curbing demand for natural gas used in electricity generation.
United States Natural Gas ETF (NYSE: UNG) is lower by 4 percent. Futures prices trade below $3.70 per million btu.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump: don't think war with Iran will start again, will make things safer for oil
- Saudi foreign ministry says Iran targeted a Saudi tanker that was transiting at Strait of Hormuz
- Crude Inventory Rose 3 Million Barrels Last Week - EIA
Create E-mail Alert Related Categories
Commodities, ETFsSign 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!
