First Trust Natural Gas ETF

Prompt-month natural gas futures have exceeded $3 per million British thermal units on Monday, marking the highest level since mid-January 2024 and hitting a potential four-day winning streak, spurred by forecasts predicting increased cooling demand due to anticipated warm weather in June. Last week, natural gas prices rose by 12.8%, and are currently eyeing the seventh week of gains out of last eight. “With a blanket of heat stalling over the southern part of the country, market bulls maintained control,” said Jodi Shafto, senior natural gas reporter at Natural Gas Intel. Chart: US Natural Gas Price Have Rallied 95% Since Late April’s Lows NatGasWeather highlighted that much of the country is expected to experience temperatures ranging from the upper 70s and 80s in the Midwest and Northeast to the upper 80s and 90s elsewhere, with extreme heat in California and Texas reaching ...Full story available on Benzinga.com

Related tickers: FCG, UNG, XLE, CRK, MTD, AR, REI, TELL, OBE.

Global energy prices fell on Monday, with Brent crude dipping back below $80 a barrel after OPEC+ rescheduled its meeting — originally planned for Sunday — to later this week. In early trade, Brent crude was down 1.2% at $79.50 a barrel, while Nymex West Texas Intermediate fell 1.2% to $74.61 a barrel. The United States Oil Fund (NYSE:USO), an exchange traded product that tracks the price of light sweet crude, was down 1.7% in pre-market trade at $69.60. OPEC+, the 13 permanent members of the oil producing cartel plus allies including Russia, will meet on Thursday to discuss output quotas. Given Monday’s price action, oil traders appeared to be backing the likelihood that very little will change in a market that is currently amply supplied. “Global energy markets have been flooded with supply so far in November, which coincided well with lower demand across the gas and oil complex,” said Joe DeLaura, global energy strategist at Rabobank. Also Read: Crude Oil Prices Fall As ...Full story available on Benzinga.com

Related tickers: FCG, USO.