UNL - Natural-gas surges nearly 6% as demand stays strong U.S. production lags

U.S. natural gas futures surged to a seven-year high today, sparked partly by threats to energy production due to the one-two weather punch of Hurricane Ida followed by Tropical Storm Nicholas. The rally eased a bit near the end of the session, but the front-month contract (NG1:COM) still settled +5.9% to $5.23/MMBtu, the highest close since February 2014. In addition to the front-month, futures for the rest of 2021, 2022 and 2023 are all rising, with 2022 trading at a record high over $4/MMBtu - much higher than most analysts forecast for next year's prices - for the third day in a row. ETFs: UNG, UGAZF, DGAZ, BOIL, FCG, KOLD, UNL, GAZ Gas-focused equities finished the day with broad gains: RRC +6.6%, SWN +4%, AR +3.7%, COG +3.5%, EQT +2.9%. Nat gas is rising as record global gas prices keep demand for U.S. exports high at the same time that

For further details see:

Natural-gas surges nearly 6% as demand stays strong, U.S. production lags