U.S. Natural Gas Holds Gains After Biggest Jump in Eight Years
- Forecasts show chilly weather extending into late November
- Stockpiles lowest since 2003 as demand rises; exports climb
Photographer: Ty Wright/Bloomberg
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Natural gas took a breather after its biggest gain in eight years as forecasts for lingering U.S. cold spurred concern supplies may not be enough to meet winter demand.
Gas for December delivery eased 3.1 percent Thursday morning in Asia after surging 18 percent to settle at $4.837 per million British thermal units, the highest since the “polar vortex” of early 2014 that spread an Arctic chill to the Midwest and East. The volume of trading on the New York Mercantile Exchange was was nearly triple the 100-day average.