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BOIL - Failure Comes As No Surprise In Natural Gas
ProShares Ultra Bloomberg Natural Gas
After falling below the $2.15 per MMBtu level on the active month August NYMEX futures contract on June 20, the natural gas market ran out of selling. The price moved over $2.20 and $2.30 per MMBtu, but it was the prospects of Hurricane Barry making landfall in Louisiana that took the price to just shy of $2.50 per MMBtu.
In 2016, the price fell to a bottom at $1.611, but in 2017 and 2018 the low was at over the $2.50 per MMBtu level. During both years, the low occurred in February. In February 2019,