Even with the near-term weakness, traders may want to keep an eye on UNG and related natural gas ETFs as the fourth quarter approaches.
“Record production will bring stockpiles to 3.43 trillion cubic feet by the end of October, which would be the least for that time of year since 2008, the EIA said yesterday in its monthly Short-Term Energy Outlook. Marketed gas output may climb 4.1 percent to a record 73.08 billion cubic feet a day,” reports Christine Buurma for Bloomberg.
United States Natural Gas Fund
ETF Trends editorial team contributed to this piece.