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

By  +Follow January 13, 2014 8:46AM
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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.


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Results for UNG
THE DIVINE DT❌❌❌™
6 Mar 15 13:34:44
SA might allow me to give pigs a fresh $UNG $UGAZ update on the 15th - the Ides of March 😈😈😈😈😈😈😈 $DGAZ $KOLD $BOIL
Lin/林莹君
6 Mar 15 13:32:12
Commented on StockTwits: #GOLD #SILVER $CAFE $JO $SGG $GLD $OIL $UNG are in mid to longer term bearish phase. Hop... http://t.co/xoR3gVbXPz
Clark Joseph Kent
6 Mar 15 13:21:58
Weekly ETF Gainers: $TAN +10.86% $UNG +4.59% $UUP +2.38% $VXX +1.34% $OIL +0.73%
Andrea Calissano
6 Mar 15 13:17:23
Weekly ETF Gainers / Losers $TAN $UNG $UUP $VXX $OIL $GDX $GDXJ $EWZ $BRF $ILF http://t.co/UIEOxzode7
Stocks On The Move
6 Mar 15 13:14:23
Weekly ETF Gainers / Losers http://t.co/ZQbTkE8cl8 $TAN $UNG $UUP $VXX
SA Breaking News
6 Mar 15 13:14:23
Weekly ETF Gainers / Losers http://t.co/fnqOYSRbH5 $TAN $UNG $UUP $VXX
Ariel
6 Mar 15 12:40:01
For those who must be in /NG $UNG, working on potential IHS to retest January high; if so, like to see Tue's low hold http://t.co/1ds1doWvWa
IH News Desk
6 Mar 15 12:26:34
$UNG Reviews Updated Friday, March 6, 2015 3:11:06 PM $LUV $GS $BLRX $BBRY http://t.co/d9OaE8ROc4
Langan Stocks
6 Mar 15 12:23:27
$FNMA Percent Change Updated Friday, March 6, 2015 3:03:18 PM $BETS $UNG $XLE $CYBR http://t.co/ic5CBToMz1
SmallCaps
6 Mar 15 12:02:55
Tip #4 How to identify a HOT SECTOR? http://t.co/ewe2BDWPGF $UGAZ $JCP $PBYI $UNG $DGLY
Investors Hangout
6 Mar 15 11:45:02
lookn4wins: UNG -0.24% Stock Charts $UNG United States http://t.co/l9QZg8kzhX
Investors Hangout
6 Mar 15 11:44:46
lookn4wins: UNG -0.24% Stock Charts $UNG United States http://t.co/qpdF8wOPoL
iHangout
6 Mar 15 11:44:41
lookn4wins: ALERTS, HOT STOCKS & CHARTS: UNG -0.24% Stock Charts $UNG United States http://t.co/G5dKewdhXr
iHangout
6 Mar 15 11:44:39
lookn4wins: ALERTS, HOT STOCKS & CHARTS: UNG -0.24% Stock Charts $UNG United States http://t.co/ajf2JbgD79
lookn4wins
6 Mar 15 11:42:20
UNG -0.24% Stock Charts $UNG United States Natural Gas Fund L.P. (NAR) Any opinions on UNG? Please reply to th http://t.co/2ohkQjRneE
PolgarStocks
6 Mar 15 11:25:38
$UNG News Updated Friday, March 6, 2015 2:07:15 PM $DDD $ITB $TVIX $QCOM http://t.co/Ov8uxP7pWz
Langan Stocks
6 Mar 15 11:22:07
$HON Filings Updated Friday, March 6, 2015 2:03:21 PM $IWM $UA $OIL $UNG http://t.co/DLyOAt5bGP
jimenezlaaa
6 Mar 15 11:04:03
$UGAZ $UNG holding very well above 50 day average despite Euro/$ against all commodities. Consolidation taking rigs count news.
Dave Cash
6 Mar 15 10:32:53
RT @audibme: Added to $DGAZ here #Natgas $UGAZ $UNG..Linda that was an amazing call yesterday !! Your awesome :-)
Linda
6 Mar 15 10:28:18
$UGAZ 10min RW breakdown $NG_F daily shooting star candle, needs to conf Mon http://t.co/6yV0Lp2tKa $DGAZ $UNG
IH News Desk
6 Mar 15 10:23:20
$UNG Financials Updated Friday, March 6, 2015 1:11:06 PM $BBY $WDC $INTC $IYR http://t.co/UClyvq7TiX
Rich Misner
6 Mar 15 10:07:21
#NatGas rigs down 12 to 268, a good number (but don't confuse rigs with active wells) $UGAZ $UNG
Walter White
6 Mar 15 10:06:44
11 more natural gas rigs are offline from last week #NG_F $UGAZ $UNG
THE DIVINE DT❌❌❌™
6 Mar 15 10:04:28
More rigs bite the dust $UNG $UGAZ $DGAZ $KOLD $BOIL
Tuan
6 Mar 15 09:31:36
$UNG a lil resistance here..
Langan Stocks
6 Mar 15 09:13:43
Stocks Trending Now: http://t.co/TkLSaytau1 $TLT $FCEL $CZR $BIB $SCON $FEYE $TMV $UNG $FNMA $OXIS $RAD $VDSI ~
jimenezlaaa
6 Mar 15 09:10:28
RT @ToddMechdes: $UNG Knock knock on the 50sma. No one answered. Maybe later? $UGAZ $DGAZ
Investors Hangout
6 Mar 15 09:07:15
Stocks Trending Now: http://t.co/48sklYjpAJ $XLK $EEM $SPXL $ASHR $SMH $ABIO $CTIC $PG $UNG $EUO $VNQ $VXF ~
Todd
6 Mar 15 08:51:11
$UNG Knock knock on the 50sma. No one answered. Maybe later? $UGAZ $DGAZ
SmallCaps
6 Mar 15 08:48:57
Tip #4 How to identify a HOT SECTOR? http://t.co/ewe2BDWPGF $UGAZ $JCP $PBYI $UNG $DGLY
Linda
6 Mar 15 08:46:40
Added to $DGAZ here #Natgas $UGAZ $UNG
Walter White
6 Mar 15 08:43:36
Nat gas, here we go son #NG_F $UGAZ $UNG $DGAZ http://t.co/Gu6i7ip2CJ
Tuan
6 Mar 15 08:41:45
$UNG oh yeahhh natty..
Chasing Stars
6 Mar 15 08:40:34
$TQQQ Ask Click Here: http://t.co/sNlJFsqRbv Also See: $MNKD $X $UNG $ERY ~
Walter White
6 Mar 15 08:37:53
Could be a 50SMA break looming here in natty gassy #NG_F $UGAZ $UNG
valentina
6 Mar 15 08:27:53
RT @AsymmStrategy: $UNG $UGAZ Natty gas ripping higher on low temps in east region. drawdowns accelerating +111 +219 +228 last 3 weeks http…
Stuart A. Brown
6 Mar 15 08:26:34
RT @chessNwine: NEW POST: Presenting King Dollar Like Royalty http://t.co/7GvJ9Kv5VR $JO $UGAZ $UNG $USO $UUP
Paul W. Mahon
6 Mar 15 08:25:57
RT @SeekingAlpha: EIA May Soon Lower Natural Gas Production Forecast http://t.co/5zUs8ZEmaC $UNG
Chess
6 Mar 15 08:17:29
NEW POST: Presenting King Dollar Like Royalty http://t.co/7GvJ9Kv5VR $JO $UGAZ $UNG $USO $UUP
Langan Stocks
6 Mar 15 08:17:16
$UNG Investor Opinions Updated Friday, March 6, 2015 11:03:19 AM $AGN $USO $FEYE $TAN http://t.co/Okgg5X4Uhf
Market Realist
6 Mar 15 08:06:22
Natural gas prices push upward but for how long? $OXY $EOG $SWN $UNG http://t.co/9NTD53dIFH
WLST.com
6 Mar 15 08:01:04
Natural gas prices rally on bullish inventory withrawals $UNG $wlst #Stocks http://t.co/0OXHCpWeUI
Top ETF Funds
6 Mar 15 08:00:36
Natural gas prices rally on bullish inventory withrawals.. http://t.co/rmkUrhkO7b $UNG #ETF #ETFs #Stocks
Langan Stocks
6 Mar 15 07:58:29
Stocks Trending Now: http://t.co/TkLSaybzCt $CVX $DDD $MCD $HYG $XLU $UNG $FXI $FCX $ITB $PBR $XLP $VRTX ~
Alexander Alt Cap
6 Mar 15 07:58:18
$UNG $UGAZ Natty gas ripping higher on low temps in east region. drawdowns accelerating +111 +219 +228 last 3 weeks http://t.co/2tFeQEgahv
Seeking Alpha
6 Mar 15 07:54:39
EIA May Soon Lower Natural Gas Production Forecast http://t.co/5zUs8ZEmaC $UNG
jimenezlaaa
6 Mar 15 07:52:50
RT @TV_TradingIdeas: US Natural Gas. When to buy? $UNG http://t.co/gHNEz1g69D
Chasing Stars
6 Mar 15 07:33:59
$UNG Financials Click Here: http://t.co/uAhFV7EcHN Also See: $DECK $LNKD $FXE $BGMD ~
Langan Stocks
6 Mar 15 07:27:51
Stocks Trending Now: http://t.co/TkLSaytau1 $VSLR $JPM $DIS $NEM $UNG $FSLR $TMF $UVXY $PG $UWTI $GPRO $AMZN ~
Langan Stocks
6 Mar 15 07:14:34
$UNG Stock Message Board Updated Friday, March 6, 2015 10:03:19 AM $TAN $BBRY $GE $EWZ http://t.co/LQORdITTjH
				
				
By  +Follow January 13, 2014 8:46AM
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