Natural gas soars after bullish supply data

|By:, SA News Editor

With natural gas in storage at more than a decade low, there needs to be plenty of inventory-building this spring and summer, but the season is off to a slow start with the EIA reporting a build last week of just 24 bcf vs. 36 bcf expected. Stocks today stand at 850 bcf, 50% off the level from one year ago and vs. a 5-year average for this time of year of 1 trillion cubic feet.

Futures jump in response, with the May 2014 contract up 4% to $4.707. UNG +3.5%

ETFs: UNG, DGAZ, UGAZ, BOIL, GAZ, KOLD, UNL, NAGS, DCNG