The number of rigs drilling for natural gas in the US fell to the lowest level in a decade as the low prices have forced companies to stop production. This could be the first step in the commodity ending its multi-year free fall.
The US Natural Gas ETF ($UNG) rallied over 10% in the last week from an all-time low. I am not suggesting the ultimate bottom has been formed. However, with less natural gas coming out of the ground it could create a bottom for the commodity as supplies drop.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
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