July 24, 2012 at 16:10 PM EDT
Natural Gas ETFs Heats Up as Market Moves into Backwardation
Natural gas exchange traded funds are firing up as increased electricity usage to combat the scorching heatwave across the U.S. has pushed the natural gas futures market into backwardation. The United States Natural Gas Fund (NYSEArca: UNG) rose 10.8% over the last week and jumped 40.4% over the...
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