UNG slides as warm-weather outlook drives U.S. natural gas-linked stocks lower
The United States Natural Gas Fund (UNG) dropped 3.1% to $11.28 Tuesday as February NYMEX natural gas futures settled down 4.91% at $3.35 per MMBtu, hitting a 2-1/4-month low. Warmer forecasts cut expected heating demand, pressuring prices and spot markets. Traders await Thursday’s EIA storage report and mid-January weather updates for signs of shifting demand.