Natural Gas ETFs Rallying Hard on Cold Snap: Can It Continue?
Portfolio Pulse from
Natural gas ETFs, including United States Natural Gas Fund LP (UNG) and ProShares Ultra Bloomberg Natural Gas (BOIL), have seen significant gains due to a cold snap. UNG is up 11% over the past week, while BOIL has surged 21.3%.
December 27, 2024 | 2:15 pm
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POSITIVE IMPACT
ProShares Ultra Bloomberg Natural Gas (BOIL) has surged 21.3% over the past week, driven by increased demand from a cold snap.
BOIL, being a leveraged ETF, has seen a more pronounced increase due to the cold snap, reflecting heightened demand for natural gas. The short-term outlook remains positive as weather conditions continue to drive demand.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
United States Natural Gas Fund LP (UNG) has gained 11% over the past week due to a cold snap, indicating strong short-term performance.
The cold snap has increased demand for natural gas, leading to a significant price increase for UNG. This trend is likely to continue in the short term as weather conditions persist.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90