Natural Gas Traders Keep an Eye on the Weather Forecast (UNG)
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Natural Gas traders are keeping one eye on weather forecast. There are two systems that are being watched. The first system consists of thunderstorm activity in the western part of the Gulf of Mexico. An air force reserve hurricane hunter is scheduled to investigate this system later today. The national hurricane center says the system has a 30 percent chance of becoming a cyclone.
The second system is located 1100 miles east. This system is larger and has a high chance of becoming a cyclone in the next 48 hours.
United States Natural Gas (NYSE: UNG) is higher by 0.75 percent intraday on Monday. Natural gas futures trade near $2.75 per million btu.
The second system is located 1100 miles east. This system is larger and has a high chance of becoming a cyclone in the next 48 hours.
United States Natural Gas (NYSE: UNG) is higher by 0.75 percent intraday on Monday. Natural gas futures trade near $2.75 per million btu.
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