Natural Gas ETFs Among The Worst Performing Equities

Brent crude has topped $90 per barrel for the first time since October, as Middle East tensions threaten to boil over into a wider regional war. Oil markets are increasingly pricing increased geopolitical risk after Iran promised retaliation following this week's Israeli strike in Syria that killed high-ranking Iranian military personnel.

Rex 2X Inverse NVIDIA Daily Target ETF NVDQ has cratered 74.3% YTD while GraniteShares 2x Short NVDA Daily ETF NASDAQNVD has tanked 72.2%. Interestingly, betting against natural gas has become a smart play with the ProShares UltraShort Bloomberg Natural Gas ETF NYSEARCA up 47% YTD and 88.6% over the past 12 months.

seeks daily investment results, before fees and expenses, that correspond to two times the inverse -2x of the performance of the Bloomberg Natural Gas SubindexSM for a single day. Russian Gas Cuts With the current inventory levels, it would take an extraordinary set of circumstances for Europe to run out of gas any time soon. Still, there could be some reprieve coming for gas bulls.

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PetroChina Books Record Profit as Natural Gas and Fuel Demand SoarChinese oil and gas giant PetroChina reported record profit in 2023 thanks to rising natural gas demand and strong fuel sales.
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Russia Attacks Natural Gas Storage Site in UkraineIn the latest of a string of attacks on energy targets, Russia attacked an underground natural gas storage site in Ukraine, but Naftogaz claims supply to customers has not been disrupted.
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Saudi Aramco To Expand Natural Gas Output Capacity by 60%After scrapping oil capacity expansion plans earlier this year, Saudi state oil giant Aramco is now poised to boost natural gas output by 60% by 2030
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Suriname in Talks with Exxon, TotalEnergies For Natural Gas DevelopmentSuriname's state-owned Staatsolie has begun early talks with ExxonMobil and French TotalEnergies for the possible joint development of natural gas fields in the Guyana-Suriname basin
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