Natural Gas Posts Fresh Highs (UNG)
Tweet
Share
E-mail
United States Natural Gas ETF (NYSE: UNG) is on the move again in early trading on Wednesday as natural gas futures break north of $2.80, posting fresh highs above $2.83. Resistance ahead of $3 is expected to be very strong, but for now the rally keeps on rolling.
In terms of fundamentals, traders are pointing to warmer weather in the U.S. which should drive energy demand. Nat-gas is also getting scooped up by investors with longer-term time horizons as the story behind natural gas use in the U.S. continues to draw a crowd.
Earlier today, natural-gas engine maker Westport Innovations (Nasdaq: WPRT) announced its second agreement with GM (NYSE: GM) for advanced engineering development for light-duty vehicles.
In terms of fundamentals, traders are pointing to warmer weather in the U.S. which should drive energy demand. Nat-gas is also getting scooped up by investors with longer-term time horizons as the story behind natural gas use in the U.S. continues to draw a crowd.
Earlier today, natural-gas engine maker Westport Innovations (Nasdaq: WPRT) announced its second agreement with GM (NYSE: GM) for advanced engineering development for light-duty vehicles.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Rose 3 Million Barrels Last Week - EIA
- Oil hits multi-week high, Wall Street slips as Iran tensions reignite
- US reinstates sanctions on Iranian oil sales after LNG, oil tanker attacks
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!
