Natural gas futures up on cold weather forecast

Energy , Natural Gas , USA Nov 25, 2013 No Comments

Natural gasNatural gas futures rose Monday, climbing for the fourth straight session, as traders bet that a powerful winter storm moving toward the East Coast, along with a recent cold spell, would boost demand for the heating fuel.

Natural gas for December delivery added 4.1 cents, or 1.1%, to $3.810 a million British thermal units on the New York Mercantile Exchange, earlier reaching their highest price since Oct. 16.

The gains follow a nearly 3% climb last week as weather forecasts have shifted toward sustained below normal temperatures. Such an outlook is bullish for natural gas because nearly half of all U.S. households use the fuel as their primary heating source, according to the Energy Information Administration.

via Natural Gas Futures Climb On Winter Storm, Cold Weather Forecasts – NASDAQ.com

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

Leave a Reply

Your email address will not be published. Required fields are marked *