logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Polar Vortex Drives Up Gas Prices, Iranian Deal Drives Down Crude

By  +Follow January 13, 2014 8:46AM
Share:
Tickers Mentioned:

ETFs tracking natural gas prices spiked Monday, following natural gas futures north as speculation that Thursday’s report on stockpiles from the Energy Department will show steep declines. Natural gas futures for Feb. 14 delivery were up over 4.75 percent Monday.

Gains for natural gas futures pulled up the major ETFs tracking natural gas prices, as well as companies extracting it. The United States Natural Gas Fund (UNG) jumped by more than 4.75 percent, the iPath Dow Jones UBS Natural Gas Subindex Total Return ETN (GAZ) climbed over 6.25 percent, and the United States 12-Month Natural Gas Fund (UNL) is up almost 3.5 percent.

Polar Vortex, Cold Weather Could be Spurring Demand

The winds that swept down from the north bringing sub-zero temperatures to most of the United States this last week also brought with them the chance that natural gas usage would increase dramatically. And, with MDA Weather Services predicting persistently lower-than-average temperatures, speculation appears to be raging among traders that the US Energy Department will report dramatically lower reserves on Thursday, driving up prices for natural gas.

“Traders are focusing on the fact that we’re probably going to see a record storage withdrawal,” said FCStong Latin America’s senior vice president of energy trading Tom Saal. “The market’s not ready to give up on winter yet.”

Thursday’s report is widely expected to show reserves dropping by more than 300 billion cubic feet in the week ending Jan. 10, a figure that would exceed the previous record decline of 285 billion cubic feet from Dec. 13.

Crude Oil Prices Continue to Plunge

News of this weekend’s deal with Iran that could return some of that country’s vast oil reserves to the open market pushed crude prices even lower on Monday, moving against natural gas’ big gains. West Texas Intermediate (WTI) crude was down almost 1 percent, below $92 a barrel, while Brent Crude was off over 0.25 percent to just under $107 a barrel.

"Up to 1 million barrels of Iranian oil per day could become available," said Commerzbank analysts. "Unless oil production was cut elsewhere, this would give rise to a considerable oversupply on the oil market, which would weigh on prices."

WTI reached a six-month low, continuing a decline of over 8 percent since it peaked at just over $100 a barrel in late December and pulling down ETFs connected to crude prices with it. The United States Oil Fund ($USO) was off almost 1.25 percent, the PowerShares DB Oil Fund ($DBO) fell just over 1 percent, and the United States 12-Month Oil Fund (USL) fell almost 0.75 percent.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for UNG
UNGtrader
1 Oct 14 16:45:14
RT @ChartingStock $NG_F Inv# 10:30am Thur $UNG Resistance $22.29 $22.31 $22.65 $22.95..Support $21.54 $21.3 $20.7 $20.67 $20.59..Manage Risk
UNGtrader
1 Oct 14 16:45:00
RT @ChartingStock: $NG_F Inv# 10:30am Thur $UNG Resistance $22.29 $22.31 $22.65 $22.95..Support $21.54 $21.3 $20.7 $20.67 $20.59..Manage Ri…
ChartingStock
1 Oct 14 16:38:31
$NG_F Inv# 10:30am Thur $UNG Resistance $22.29 $22.31 $22.65 $22.95..Support $21.54 $21.3 $20.7 $20.67 $20.59..Manage Risk..More @UNGTrader
OTPicks.com
1 Oct 14 15:00:48
http://t.co/hjgLwIcNgz Emylers: $UNG Up to date company activities and other: Emylers http://t.co/nRAmpD1L4w http://t.co/hjgLwIcNgz
OTPicks.com
1 Oct 14 15:00:46
http://t.co/QkCFZ8H3V8 Emylers: $UNG Up to date company activities and other: Emylers http://t.co/UVuSvlXwKQ http://t.co/QkCFZ8H3V8
Jake Yeager
1 Oct 14 13:33:24
This $UNG is setting up for possible downside breakout of long-term ascending channel http://t.co/rurpNbf4U0
Ike Startup
1 Oct 14 12:51:53
Today's move is a simple gap fill on the daily, look at weekly chart, breaking out... Going into winter $ung $ugaz $dgaz
Market Int Center
1 Oct 14 12:50:03
Potential US Natural Gas $UNG Trade Has 10.54% Downside Protection ( http://t.co/Qw9TRcO86i )
Gillian Kemmerer
1 Oct 14 12:43:12
RT @absolutereturn: The Upside: $UNG arbitrage fuels Venor's power surge, @gilliankemmerer reports http://t.co/E52Enn0swt #hedgefund @Hedge…
Absolute Return
1 Oct 14 12:42:56
The Upside: $UNG arbitrage fuels Venor's power surge, @gilliankemmerer reports http://t.co/E52Enn0swt #hedgefund @HedgeFundIntel
Teycir
1 Oct 14 11:31:28
$ung Natgas, they are taking profit b4 the weekly EIA Natural Gas Storage change 2morrow.
John Ryan
1 Oct 14 11:27:37
Natural gas unraveling $ugaz $dgaz $ung
Ben Silverberg
1 Oct 14 10:44:24
Commented on StockTwits: Posted a caution last night: only scalping $UGAZ, holding Common $UNG for Swing. http://t.co/gHUzBppVcn
Investors Hangout
1 Oct 14 10:24:47
Emylers: $UNG Up to date company activities and other http://t.co/aLbJwslURd
Investors Hangout
1 Oct 14 10:24:25
Emylers: $UNG Up to date company activities and other http://t.co/Zn49QnqTeM
Investors Hangout
1 Oct 14 09:59:38
danrocks: $PCLN Alert $VOIS $UNG $IYT $DAL $LUV http://t.co/jcIk1aOOp5
Investors Hangout
1 Oct 14 09:59:38
danrocks: $PCLN Alert $VOIS $UNG $IYT $DAL $LUV http://t.co/xCyrmtEmA4
Extreme Stocks
1 Oct 14 09:58:03
Emylers: $UNG Up to date company activities and other http://t.co/IyxVIrV7nI
Emylers
1 Oct 14 09:57:06
$UNG Up to date company activities and other important information about $UNG http://t.co/WmAy1fJ3ll
danrocks
1 Oct 14 09:50:57
$PCLN Alert $VOIS $UNG $IYT $DAL $LUV http://t.co/XV5Jtlh5Db
Investors Hangout
1 Oct 14 09:27:19
danrocks: $AMX Buzz $HZU.TO $PCLN $TWTR $FCX $UNG http://t.co/r22GCCqYkB
Investors Hangout
1 Oct 14 09:27:07
danrocks: $AMX Buzz $HZU.TO $PCLN $TWTR $FCX $UNG http://t.co/z4pnSn2igg
GovBrain
1 Oct 14 09:00:29
GovBrain Political Intelligence: $UNG $LNG Good Research Report on Liquefied Natural Gas Exports from US GAO - http://t.co/SB2Ye52clu
danrocks
1 Oct 14 08:59:13
$AMX Buzz $HZU.TO $PCLN $TWTR $FCX $UNG http://t.co/2lAtX1pAIc
Stoyan Bojinov
1 Oct 14 08:30:36
RT @ETFdb: $UNG and EIA Reports: A Recipe for Weekly Volatility >> http://t.co/i69P9VsStA $STUDY
ETF Database
1 Oct 14 08:28:20
$UNG and EIA Reports: A Recipe for Weekly Volatility >> http://t.co/i69P9VsStA $STUDY
ETF Database
1 Oct 14 07:58:56
An in-depth look at $UNG and how it reacts to weekly EIA storage numbers http://t.co/4vZnZNhWp9 #investing #ETFs #naturalgas
mah311
1 Oct 14 07:44:30
BUY - $UNG for 75% of planned position at limit of $22.08 http://t.co/RXjzq57Qmd
Investors Hangout
1 Oct 14 07:42:55
jim50: $UNG Volume Date=Sept-30-2014 Open=22.16 http://t.co/MUR7duoenc
Investors Hangout
1 Oct 14 07:42:47
jim50: $UNG Volume Date=Sept-30-2014 Open=22.16 http://t.co/qm7fbnfCoJ
Jason Bond
1 Oct 14 07:32:38
$UNG coming in, into inventory Thursday, $DGAZ looking good for a little pop. $UGAZ
jim50
1 Oct 14 07:26:37
$UNG Volume Date=Sept-30-2014 Open=22.16 High=22.29 Low=21.98 Close=22.11 Volume=5893500 http://t.co/4utwcpPywK
Langan Stocks
1 Oct 14 07:05:40
Rosner: UNG United States Natural Gas Fund, LP $UNG http://t.co/s3IE5XTSZe
Jared Cummans
1 Oct 14 07:04:03
An in-depth look at how $UNG reacts to weekly EIA storage reports $DGAZ $UGAZ http://t.co/9kLCMnsUzH http://t.co/GoPaNZAMdu
Jake13
1 Oct 14 06:46:26
$NWBO Opinion Click here to find out if $NWBO is a buy hold or sell. Watching these stocks. $TWM $XLI $AG $UNG http://t.co/ROWbeRlr5F
Investors Hangout
1 Oct 14 06:43:18
danrocks: $LUV On Alert $JPM $UNG $INVN $AMD $XOM http://t.co/milsC07lmf
Investors Hangout
1 Oct 14 06:43:16
danrocks: $LUV On Alert $JPM $UNG $INVN $AMD $XOM http://t.co/1EC1Olhblc
Market Trader Daily
1 Oct 14 06:30:02
Oct 1-2014 Wed Mkt Open - $GLD 116.59 $USO 34.61 $UNG 22.29 $FXE 124.30 $TLT 116.79 $TKMR 26.31 $AAL 34.65 #stocks Windows 10 Hong Kong
danrocks
1 Oct 14 06:29:07
$LUV On Alert $JPM $UNG $INVN $AMD $XOM http://t.co/2FSO6yNCCY
Ben Silverberg
1 Oct 14 06:16:32
Seasonal influences and technical parameters for $NATGAS have turned positive. $UNG $UGAZ
Viraj Shah
1 Oct 14 05:55:40
busted through 4.173 4.4 here we come. $ng_f $UNG
Rori
1 Oct 14 05:32:23
Too much to ask for small spike at open in nat gas? $UNG $UGAZet al
Matt
1 Oct 14 04:20:46
Commented on StockTwits: LOL "@DoubleDownOn11: $UGAZ $DGAZ $UNG The news headlines for the past few days from... http://t.co/WcOEfZobDy
Stock_Tracker
1 Oct 14 04:11:06
US Natural Gas (UNG) 22.11 $UNG United States Natural Gas Fund LP Rises 2.32% on Heavy Volume: Watch For Poten http://t.co/PLA7PcaQMk
Viraj Shah
1 Oct 14 03:41:27
IF $ung $ng_F break through with volume and no heavy selling, we have short squeeze to 24 on UNG. Seculators are heavily short.
Viraj Shah
1 Oct 14 03:39:38
My $ng_F $ung buy call from few days ago looking good now. Watch closely here, just above key resistance so corrects or a fast short squeeze
Stock Forums
1 Oct 14 00:20:47
$NWTR Financials Click Here: http://t.co/kSW2Hkv3EW Also See: $RWLK $GDX $UNG $MDIN ~
chartguy89
30 Sep 14 23:44:48
UNG 22.11 Stock Charts $UNG United States Natural Gas Fund L.P. (NAR) Last Updated: 10/01/2014 01:44:46 UNG St http://t.co/Rul6DF7oKc
Al Finlaw
30 Sep 14 23:37:37
RT @zozotrader: $UNG daily over 22.00 today out of a base $UGAZ http://t.co/KDW8BtiJd4
Stock Forums
30 Sep 14 21:45:36
$HRDND Ask Size Click Here: http://t.co/I2JRBsoK5m Also See: $SLW $MU $DKGR $UNG ~
				
				
By  +Follow January 13, 2014 8:46AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.