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UNL - Natural Gas - Inventory Data Sends The Energy Commodity To The Late April Low
United States 12 Month Natural Gas Fund
Last week I wrote, "I do not expect much from the natural gas market so I will be sitting on the sidelines." The price of July futures that traded in a range of $2.544 to $2.646 per MMBtu until Wednesday, May 29. On Thursday and Friday last week, natural gas headed for a test of the bottom end of the 2019 trading range.
In November 2018, the range in natural gas was from $3.166 to $4.929 per MMBtu, but natural gas is a seasonal commodity. Last November, the natural gas futures market was heading into