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U.S. Natural Gas Extends Six-Week High as Cold Sweeps East Coast

From bnnbloomberg.ca

U.S. natural gas futures rallied to the highest seasonal level in more than a decade as frigid weather stokes heating demand and traders rush to unwind bearish bets. Futures for February delivery climbed more than 9% on Wednesday to $4.638 per million British thermal units, the highest intraday price since Dec. 1. Weather forecasts are turning colder for major population centers along the East Coast while a winter storm is expected to slam the South over the weekend. “The move for now is about short covering and how much colder weather can get into January through February,” said Dennis Kissler, a senior vice ... (full story)

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  • Category: Fundamental Analysis