Natgas stocks rise on higher demand forecasts, rising oil futures
UNG•Company and ETF moves
- CNX Resources (CNX.N) up 3.6%
- EQT Corp (EQT.N) up 7.6%
- Energy Transfer (ET.N) up 1.2%
- Venture Global (VG.N) up 3.5%
- Williams Companies (WMB.N) up 1.7%
- NextDecade (NEXT.O) up 2.0%
- Sempra (SRE.N) up 2.5%
Natgas ETFs also rose, with United States Natural Gas Fund (UNG.P) up 1.2% and ProShares Ultra Bloomberg Natural Gas (BOIL.P) up 2.6%.
U.S. natural gas stocks rise with futures
Shares of U.S. natural gas companies rose, tracking an uptick in natgas futures.
Front-month gas futures for August delivery NGc1 on the New York Mercantile Exchange were up 1.8% at $2.916 per million British thermal units.
U.S. natgas futures rose supported by robust summer cooling demand and a rally in oil prices, as investors awaited the U.S. Energy Information Administration's weekly gas storage report due Thursday.
