But if the commodity rallies, traders that previously left the long nat gas trade could be compelled to get involved again, further boosting the commodity.
Related: Natural Gas ETFs Ready for Summer Demand
A hot summer in large cities across the Northeast and Midwest will drive up energy demand as Americans crank up air conditioners, which typically means more natural gas being burned to power the electricity plants.
“The production pullback is less certain to continue its downward trend. The number of rigs drilling in the U.S. has dwindled to fewer than 100, down from more than 200 a year ago, according to oil-field service company Baker Hughes,” reports Barron’s.
United States Natural Gas Fund
