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U.S. natural gas prices jump on cold weather outlook
The wintry weather lifted December 21 U.S. Natural gas prices on Thursday November 18.
By Rony Abboud
0
- Oil & Gas
- United States
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The National Weather Service is predicting cold front slices through the East Coast and another storm for the Northwest. The wintry weather lifted December 21 U.S. Natural gas prices on Thursday November 18 by +3.51% (2:52 PM, GMT +2), following a 7% decline in the previous session.
After falling by -5.12% on Wednesday, the United States Natural Gas Fund (UNG) is likely to trend higher for the rest of the day (+2.33% Pre-market). With exposure to U.S.-listed Natural Gas Equities, the First Trust Natural Gas ETF (fCG*) is expected to follow suit.
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However, market may swing differently after the U.S Energy Information Administration (EIA) releases its Weekly Natural Gas Inventory report at 10:30 a.m. ET.
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