Natural Gas Storage + 57Bcf vs +48Bcf est.
Portfolio Pulse from Benzinga Newsdesk
The storage of natural gas has increased by 57 billion cubic feet (Bcf), which is higher than the estimated increase of 48 Bcf.
September 14, 2023 | 2:30 pm
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NEUTRAL IMPACT
The United States Natural Gas Fund (UNG) may be impacted by the higher than expected increase in natural gas storage.
The United States Natural Gas Fund (UNG) is an exchange-traded security that is designed to track in percentage terms the movements of natural gas prices. Therefore, any significant changes in natural gas storage, which can influence the supply and demand dynamics and thus the price of natural gas, could potentially impact the performance of UNG.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100