The weekly natural gas report shows a drop of 36 billion cubic feet

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March 28, 2019 11:53am 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 36 billion cubic feet for the week ended March 22. Analysts polled by S&P Global Platts had expected a decline of 33 billion cubic feet. Total stocks now stand at 1.107 trillion cubic feet, down 285 billion cubic feet from a year ago and 551 billion below the five-year average, the government said. May natural gas NGK19, +0.33% traded at $2.719 per million British thermal units, unchanged from Wednesday’s settlement.

The United States Natural Gas Fund L.P. (UNG) was trading at $24.04 per share on Thursday morning, up $0.07 (+0.29%). Year-to-date, UNG has gained 3.09%, versus a 5.18% 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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