Weekly EIA natural gas report shows supplies up 92 billion cubic feet

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April 25, 2019 1:34pm NYSE:UNG

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From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 92 billion cubic feet for the week ended April 19. Analysts polled by S&P Global Platts had expected an increase of 90 billion cubic feet for the latest week. Total stocks now stand at 1.339 trillion cubic feet, up 55 billion cubic feet from a year ago, but 369 billion below the five-year average, the government said. May natural gas NGK19, +1.67% traded at $2.468 per million British thermal units, up less than a cent, or 0.2%, from Wednesday’s settlement.

The United States Natural Gas Fund L.P. (UNG) was trading at $22.01 per share on Thursday afternoon, up $0.37 (+1.71%). Year-to-date, UNG has declined -5.62%, versus a 9.99% 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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