UNG, an ETF that tracks natural gas futures, has traded higher after bottoming in April. The fund is up 11.6% the past month although it’s off more than 20% year to date, according to Morningstar data. The fund gained 1.3% on Thursday afternoon.
New natural gas pipelines are expected to add to the oversupply that’s weighed on the commodity’s price in recent years. “Natural gas pipelines coming into service by year end may boost deliveries from the Marcellus shale deposit in the U.S. Northeast by 30%, extending a supply glut that helped send prices to decade lows,” according to a separate Bloomberg report.
U.S. Natural Gas Fund
