The ProShares UltraShort Bloomberg Natural Gas ETF (KOLD) is experiencing significant downward pressure due to a sharp rise in natural gas prices. This surge in natural gas futures, which jumped 8% to $3.287/MMBtu, is largely attributed to President Trump's recent announcement of tariffs on Canadian and Mexican oil imports. These tariffs have raised concerns about potential supply disruptions, leading to a bullish sentiment in the natural gas market. Additionally, a massive withdrawal of 321 billion cubic feet from natural gas storage, reported by the Energy Information Administration, has further fueled the price increase, as it exceeded both last year's and the five-year average withdrawals.
The current price of KOLD is $33.70, reflecting a 16.21% decrease from the previous close.