ProShares Ultra DJ-UBS Natural Gas (2x) (BOIL)

[Dubster watching]

US natural gas futures increased to $1.69/MMBtu, rebounding from a three-week low following the EIA's storage draw report. The government data showed that US utilities withdrew 9 billion cubic feet of natural gas from storage last week, surpassing market expectations of a 3 bcf draw. Additionally, CNX Resources also announced a reduction in well completions and gas production for the year due to lower prices. In the past month, US gas output has declined by 6%, with companies like EQT and Chesapeake Energy deliberately cutting production. Despite these factors, natural gas prices are expected to decrease for the second consecutive week due to an extended outage at Freeport train 3, which is restricting gas flow to LNG export facilities. The timeline for the Freeport LNG outage remains unclear, delaying a return to normal US LNG feedgas levels until the plant resumes full operations, anticipated in mid- to late-March.