The West Texas Intermediate (WTI) crude spot price, as tracked by the United States Oil Fund (NYSE:USO), hovered below $80 a barrel on Monday, remaining relatively stable despite significant geopolitical developments in the Middle East. Indeed, natural gas prices have experienced a substantial increase, although for different reasons. Henry Hub front-month futures for June delivery, as closely followed by the United States Natural Gas Fund (NYSE:UNG), surged by over 4% to $2.64/MMBTu, marking th
With natural gas price action remaining positive but volatile, we recommend investors hold onto companies with strong fundamentals, such as CTRA and LNG.
SUPPLY AND DEMAND Financial firm LSEG said gas output in the Lower 48 U.S. states fell to an average of 97.2 billion cubic feet per day (bcfd) so far in May, down from 98.1 bcfd in April. On a daily basis, output rose about 1.9 bcfd over the past five days to a four-week high of 98.0 bcfd on Sunday with the return from maintenance of some gas pipes in Texas from a 15-week low of 96.1 bcfd on May 7.