Short Term NG Backwardation

$Henry Hub Natural Gas Futures(JUL4)(NGmain.US)$ are cheaper than $Henry Hub Natural Gas FEB4(NG2402.US)$by close to 20%. Suppliers will sell the current contract and buy the next for an easy profit. This should lead to short term spot depreciation if there is available storage for the forward month. This backwardation will also benefit $ProShares Ultra Bloomberg Natural Gas(BOIL.US)$on the role date.