Related: Natural Gas ETFs Surge Despite Rise in Storage
Investors pulled $50.45 million from UNG in the third quarter.
Barclay’s “weather outlook calls for natural gas prices to average $2.99 per mmBtu this winter, but if temperatures are 10 percent colder than anticipated, that estimate shoots up to $3.65 per mmBtu,” according to CNBC. “Barclay’s view that natural gas prices will moderate speaks to the roots of the rally. While low stockpiles provide a bearish backdrop, it’s largely the unseasonably warm weather and unplanned nuclear power outages that are to blame.”
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