Exchange traded funds (ETFs) that track natural-gas futures rallied Thursday after a weekly supply report showed inventories rose less than expected.
The report on natural-gas stockpiles reflects “a tighter than expected supply [and]demand balance” than the market had expected, said Tim Evans, an analyst with Citi Futures Perspective, according to Dow Jones Newswires.
A large amount of nuclear-power generation was out of service for repairs and refueling last week, Evans said, likely boosting demand for natural gas, according to the report.
Natural-gas ETFs posting solid gains Thursday after the inventory report included U.S. Natural Gas Fund (NYSEArca: UNG), Teucrium Natural Gas (NYSEArca: NAGS) and iPath Dow Jones UBS Natural Gas ETN (NYSEArca: GAZ).
U.S. Natural Gas Fund
Full disclosure: Tom Lydon’s clients own UNG.
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