26.12 +0.03 (0.11%)
After hours: 7:50PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||25.86 - 27.10|
|52 Week Range||25.20 - 67.10|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||1.22%|
Between April 10 and April 17, 2018, the correlation between natural gas and US crude oil May futures was just 4.2%. In the seven calendar days to April 17, US crude oil and natural gas prices moved in the same direction in three instances out of the last five trading sessions based on the closing prices.
Natural gas inventories declined by 19 Bcf (billion cubic feet) to 1,335 Bcf in the week ending April 6, 2018, according to the EIA’s (U.S. Energy Information Administration) report announced on April 12, 2018. The fall in the EIA’s data was eight Bcf more than the market’s expected fall. On April 12, 2018, natural gas May futures rose 0.4%.
On April 17, 2018, natural gas May 2018 futures closed at a premium of ~$0.1 to May 2019 futures. The difference is called the “futures spread.” On April 10, 2018, the futures spread was at a premium of ~$0.03. Between April 10 and April 17, 2018, natural gas May futures rose 3.1%.
On April 17, 2018, natural gas May 2018 futures fell 0.5% and settled at $2.738 per MMBtu (million British thermal units). However, between April 10 and April 17, 2018, natural gas May futures rose 3.1%. Unseasonal cold weather could be behind natural gas’s rise over this time period.
As we have seen in the previous part of this series, Southwestern Energy’s (SWN) stock rose more than 5% last week. Last week, Southwestern Energy’s stock had a positive correlation of ~3% with natural gas.
On March 29–April 6, 2018, the ETFs that follow natural gas futures had the following performances. The United States Natural Gas ETF (UNG) fell 1.4%. The ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 2.9%.