GAZB - Natural gas bucks oil selloff jumping to two-and-a-half year high

straga/iStock via Getty Images Today's big selloff in crude oil had no effect on U.S. natural gas prices, which settled +2.9% at $3.779/MMBtu, the highest closing price since December 2018. Gas futures (NG1:COM) jumped to a 30-month high on soaring global gas prices and forecasts for more air conditioning demand next week than previously expected, although forecasts for the current week call for a little less hot weather and lower air conditioning demand than previously expected. But the price for the commodity failed to help gas-focused equities, which behaved more like their oil counterparts: [[AR]] -5.3%, [[SWN]] -4.5%, [[COG]] -3.2%, [[RRC]] -3.1%, [[EQT]] -0.8%. ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]] With European and Asian gas trading at $13-$14/MMBtu, analysts say buyers around the world will keep purchasing all the liquefied natural gas the U.S. can produce. Also, U.S. natural gas inventories are at a bullish 7%

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Natural gas bucks oil selloff, jumping to two-and-a-half year high