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United States Natural Gas Fund LP (NYSE:UNG) shares are trading higher Monday driven by record flows to liquefied natural gas (LNG) export plants and stronger-than-expected demand forecasts over the next two weeks.
What To Know: According to Reuters, traders attributed the price movement to reports confirming that Germany is not pursuing negotiations with Russia to revive the Nord Stream 2 pipeline.
Front-month gas futures for April delivery on the New York Mercantile Exchange increased by 27.6 cents or 7.2%, to $4.110 per million British thermal units (mmBtu). This rebound comes after the contract closed at its lowest point since Feb. 14.
Despite record U.S. gas output and …
