Natural Gas Prices Lower as Inventory Builds
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United States Natural Gas (NYSE: UNG), an ETF that tracks natural gas futures, is getting slammed, trading down 4 percent. According to the EIA, US nat-gas stockpiles rose 62 bcf last week vs. an expected rise of 56 bcf. The increase in inventory, although above estimates, is lower than the previous week's increase of 71 bcf.
Stocks piles increased 81 bcf for the same week last year, and on average over the past five years have gained 99 bcf, according to data from Reuters.
Stocks piles increased 81 bcf for the same week last year, and on average over the past five years have gained 99 bcf, according to data from Reuters.
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