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Natural gas (UNG -2.6%) futures sink after a report by Weather Derivatives projects heating...

Natural gas (UNG -2.6%) futures sink after a report by Weather Derivatives projects heating demand 2% below norms from Nov. 15-19 and inventory data released yesterday showed natural gas inventories are more than 6% higher relative to the five-year average.
Comments (3)
  • Christopher Wallace
    , contributor
    Comments (1149) | Send Message
     
    That drop is way to big for a minor short term change in weather. Buying opportunity.
    9 Nov 2012, 05:45 PM Reply Like
  • TGCFG
    , contributor
    Comments (49) | Send Message
     
    Did Weather Derivatives report all the snow storms everywhere last week and colder that normal temperatures? NO! I live in Florida and all the old people have their heat on at night already! Also what about the new snow storms coming up and the fact that it's been a long time since we have had snow this early, did they reprt that? NO! It doesn't really matter any way if their prediction does come true because the fact is you have a winter season gearing up and all the natural das suppiers are going to have to build inventories to meet the projected demand. It's like retailers for the holiday season, whether it's good or bad sales at the end of the day they still have to order product to meet demand. So seasonally Natural gas is going up maybe back to the $4.00-$4.25 area.
    10 Nov 2012, 10:07 AM Reply Like
  • nimbostratus
    , contributor
    Comments (2) | Send Message
     
    November should stay mild across most of the CONUS, don't see prices going up from weather-driven demand at least through this week.
    13 Nov 2012, 07:50 AM Reply Like
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