SUA Natural Gas Storage 58B Vs 53B Est.; 40B Prior
Portfolio Pulse from Benzinga Newsdesk
The U.S. natural gas storage increased by 58 billion cubic feet, surpassing the estimated 53 billion and the prior 40 billion. This data could impact energy-related ETFs and stocks.
September 19, 2024 | 2:31 pm
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The U.S. natural gas storage report showed an increase of 58 billion cubic feet, higher than the expected 53 billion. This could lead to a short-term decrease in natural gas prices, potentially impacting the United States Natural Gas Fund (UNG).
The increase in natural gas storage suggests a higher supply than anticipated, which could lead to a decrease in natural gas prices. As UNG tracks natural gas prices, this may negatively impact its short-term performance.
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