U.S. Gas Slumps to 14-Year Low as Forecasts Keep Getting Warmer
- New York City's high temperature for Dec. 13 reached record
- Stockpile surplus biggest since 2012 for time of year
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Record warmth sent U.S. natural gas prices tumbling to a 14-year low as December appeared to be a bust for bulls.
Gas slumped as the latest forecasts showed temperatures more than 20 degrees Fahrenheit above normal in parts of the eastern U.S. later this month. Cities from Lexington, Kentucky, to Binghamton, New York, broke temperature records dating back to the 19th century over the weekend, AccuWeather Inc. data show. New York City reached a high Sunday of 67 (19 Celsius), a record for the date, beating a mark set in 1923, according to the National Weather Service.