“The bulls are coming out of the woodwork here,” Phil Flynn, senior market analyst at Price Futures Group, said in the article. “We hadn’t really seen that in natural gas; people had been somewhat averse to the belief in higher prices because of the record production.”
The natural gas ETF UNG tracks Nymex natural gas futures and rolls contracts over from month to month, so the fund is susceptible to the shape of the futures curve. Specifically, when longer-dated contracts are more costly than near-term contracts, the ETF could see some pressure when rolling futures.
U.S. Natural Gas Fund
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Max Chen contributed to this article.