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Barchart
Barchart
Rich Asplund

Cold US Temps Spark Fund Buying of Nat-Gas Futures

United States Nymex EIA BNEF Natural Gas

January Nymex natural gas (NGF26) on Wednesday closed up by +0.155 (+3.20%).

Jan nat-gas prices rallied sharply on Wednesday and posted a nearly 3-year nearest-futures high.   Weather forecasts of colder-than-normal weather in the US, which will boost nat-gas heating demand, have sparked fund buying of nat-gas futures on Wednesday.   Forecaster Atmospheric G2 said below-normal temperatures in the Northeast and Great Lakes will last through the end of this week and return after the middle of the month.  Nat-gas prices added to their gains Wednesday on technical buying after prices rose above $5.00 per million British thermal units.

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