Natural-gas futures pare gains after EIA report is released

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December 13, 2018 12:57pm NYSE:UNG

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From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 77 billion cubic feet for the week ended Dec. 7. Analysts polled by S&P Global Platts had forecast a decline of 79 billion cubic feet, on average. Total stocks now stand at 2.914 trillion cubic feet, down 722 billion cubic feet from a year ago, and 723 billion below the five-year average, the government said. January natural gas NGF19, +0.87% traded at $4.225 per million British thermal units, up 8.8 cents, or 2.1%, from Wednesday’s settlement. It was trading at $4.276 before the supply data.

The United States Natural Gas Fund L.P. (UNG) was trading at $33.98 per share on Thursday afternoon, up $0.74 (+2.23%). Year-to-date, UNG has gained 45.71%, versus a -0.39% rise in the benchmark S&P 500 index during the same period.

UNG currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #52 of 108 ETFs in the Commodity ETFs category.

This article is brought to you courtesy of MarketWatch.

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