Weekly Natural Gas EIA report shows a weekly decline of 78 billion cubic feet

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February 14, 2019 2:44pm 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 78 billion cubic feet for the week ended Feb. 8. That matched the average forecast of analysts polled by S&P Global Platts, but was well below the five-year average decline of 160 billion. Total stocks now stand at 1.882 trillion cubic feet, down 30 billion cubic feet from a year ago and 333 billion below the five-year average, the government said. March natural gasNGH19, -0.04% traded at $2.584 per million British thermal units, up less than a penny, or 0.3%, from Wednesday’s settlement.

The United States Natural Gas Fund L.P. (UNG) was trading at $22.97 per share on Thursday afternoon, down $0.20 (-0.86%). Year-to-date, UNG has declined -1.50%, versus a 3.50% 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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