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UNL - Have We Hit Peak Bearishness On Natural Gas Yet?
United States 12 Month Natural Gas Fund
Summary
In the past month, U.S. natural gas prices (Henry Hub Futures) have declined 51%, marking the worst 30-day performance we have on record.
Europe has made a conscious effort to fill its natural gas storage capacity going into winter and reduce its demand for energy, with a European Union agreed target to reduce gas demand by 15% from August 2022 to March 2023.
Warmer-than-normal temperatures have reduced natural gas demand in the U.S. and Europe.