UNL - U.S. nat gas surges 11% to seven-year high on global shortage shock

U.S. natural gas prices soared today to their highest in more than seven and a half years, with traders citing contagion fears as gas and other energy shortages sweep Europe and Asia, which is leading to heavier demand for U.S. liquefied natural gas. Front-month gas futures (NG1:COM) for October delivery settled +11% to $5.706/MMBtu, the highest closing price since February 2014 and the contract's biggest daily percentage gain since this February's Texas freeze. ETFs: UNG, UGAZF, DGAZ, BOIL, FCG, KOLD, UNL, GAZ SWN +22.1%, RRC +9%, AR +8.5%, COG +8.4% all scored new 52-week highs in today's trading; EQT +11.7% closed just a little bit short. "Spectacular prices around the world are feeding into the sentiment here," Again Capital's John Kilduff tells Reuters, adding that "gas as a commodity is getting repriced" and "now that we've hit these price heights, it will be easy to do it again." "The market

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U.S. nat gas surges 11% to seven-year high on global shortage shock