ETF Action: Natural Gas ETFs Lose Fuel

NEW YORK ( TheStreet) -- Consumer non-cyclical ETFs were outperformers on Thursday led by gains in the stocks of Proctor&Gamble

The United States Natural Gas Fund ( UNG) shed 4.8% after data showed natural gas reserves grew more than expected and natural gas prices headed lower in response. The iPath Dow Jones UBS Natural Gas Fund ( GAZ) also lost close to 5%.

Oil headed higher to more than $75 after crude oil inventory data showed inventories declined by 5 million barrels. That helped push the United States Oil Fund ( USO) higher.

Retail ETFs traded flat to marginally lower after the release of June retail sales numbers showed that retailers were resorting to deep discounting to drive sales.

China's move to remove rebates on exports of certain steel products failed to spur steel and industrial metal ETFs, which were trading flat.

-- Reported by Shanthi Venkataraman in New York.

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