Nat gas futures sizzle as forecasts expect February cold blast

  • Natural gas prices continue to soar, as February futures rise more than 4% to $3.588/MMBtu, the strongest for a most active contract in more than a year, boosted by forecasts for more frigid temperatures in parts of the U.S.
  • Forecasts for below-normal temperatures and elevated heating demand across the central U.S. early next month have sparked the market this week, analysts at TFS Energy say.
  • Analysts say expectations for an outsize drawdown in natural gas out of storage this week also have contributed to the gains, noting that supply already is 12% below the five-year average.
  • Stocks on watch include CHK, RRC, COG, SWN, EQT, AR, GPOR, ECR
  • Earlier: WSJ: China LNG demand sucks gas out of global market, raising prices (Jan. 23)

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