Natural gas futures and related ETFs climbed Monday as weather forecasts strengthened the expected intensity of a cold trends ahead.
The United States Natural Gas Fund (NYSEArca: UNG) gained 7.0% Monday as Nymex natural gas futures were 7.3% higher to $3.52 per million British thermal units.
Additionally, for the more aggressive traders, the three-times leveraged-long VelocityShares 3x Long Natural Gas ETN (NYSEArca: UGAZ) surged 21.2% Thursday while the ProShares Ultra Bloomberg Natural Gas (NYSEArca: BOIL), which takes the two times or 200% daily performance of natural gas, advanced 13.6%.
Bespoke Weather Services projected above-average gas-weighted degree days beginning Friday, Nov. 9, which may continue through Nov. 18, with heating demand expected to peak around Nov. 14, the Natural Gas Intelligence reports.
