Natural gas markets experienced a pullback on December 23, 2024, as traders engaged in profit-taking ahead of the holiday season. Despite a recent rally driven by frigid temperatures across the U.S., which had pushed futures to their highest levels of the year, the market saw a temporary retreat. Analysts suggest that the market is likely to see continued interest from buyers looking to capitalize on value opportunities, although the momentum may be limited due to the approaching holidays. Additionally, the market is facing a potential brief warm-up, which could further temper the recent bullish sentiment.
The ProShares Ultra Bloomberg Natural Gas ETF (BOIL) saw its price decrease to $49.15, marking a 2.40% decline from the previous close.