- Natural gas futures have climbed to a more than a two-and-a-half-year high as bitter cold temperatures over the eastern two-thirds of the U.S. sends demand for the heating fuel surging.
- "For the next week and a half, the bulls are in charge of this market," one broker says, as traders bet on further price gains as weather forecasters project near-zero to subzero lows in the eastern U.S. in the days ahead.
- The amount of natural gas now in storage is ~2.5T cf, 15% below the five-year average for this time of year, and some analysts see storage levels eventually sinking to 1.3T cf.
- ETFs: UNG, UGAZ, GAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG.
Record cold temps send natural gas futures to 2 1/2-year high
Jan 22 2014, 11:20 ET