JJE - UNG: Stalling Gas Exports May Bring Natural Gas Back To 2021 Levels

June, 20 2022 04:41 PM iPathA Series B Bloomberg Energy Subindex Total Return ETN

Natural gas prices have risen more significantly than crude oil or gasoline since 2020.
While European storage levels are now normalized, they will likely decline as Russia slows gasoline exports.
U.S. LNG exports have risen substantially this year but will stall as capacity is reached and temporarily lowered due to the Freeport fire.
U.S. natural gas prices are significantly above average levels, given the relatively low deficit.
As long as U.S. gas production continues to recover, I expect UNG to decline as the shortage gap closes by November.

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Company Name:	iPathA Series B Bloomberg Energy Subindex Total Return ETN
Stock Symbol:	JJE
Market:	NYSE