Natural Gas Fluctuates Amid Forecasts for Fading Cold Weather---->
Natural gas fluctuated in New York amid speculation that extreme U.S. cold this week will be followed by milder weather, cutting demand for the heating fuel. Gas moved between gains and losses as MDA Weather Services in Gaithersburg, Maryland, said the coldest weather indecades this week will give way to above-normal readings from Jan. 11 through Jan. 15. Chicago may have a high of minus 9 degrees Fahrenheit (25 Celsius) today, 41 degrees below normal, before reaching 41 degrees on Jan. 15, 10 above average, according to AccuWeather Inc. That cold weather we are experiencing at the moment will probably not be sustained for several days, senior vice president of energy trading at FCStone Latin America LLC in Miami. “The cold weather we had a few weeks ago showed the market could survive adequately. Natural gas for February delivery rose 1.7 cents, or 0.4 percent, to $4.321 per million British thermal units at 9:22 a.m. on the New York Mercantile Exchange after dropping to $4.283.
Trading volume was 13 percent below the 100 -day average. Gas has climbed 23 percent since Nov. 1
(Source:: Bloomberg)
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