Exchange traded funds (ETFs) and notes that provide exposure to the movement of natural-gas futures saw their fifth straight day of losses Thursday with forecasts of milder weather hitting the commodity this week.
U.S. Natural Gas Fund (NYSEArca: UNG) lost more than 2% after dropping by a similar percentage on Wednesday. [Natural Gas ETFs Decline On Warmer Weather Forecasts.]
Natural-gas futures slid Thursday after a government report showed a smaller-than- expected decline in U.S. supplies, Bloomberg reported.
Natural gas is one of the few commodities in the red for 2011.
U.S. Natural Gas Fund was trading near its 50-day moving average.
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