Gas Futures Suffer Biggest Drop in Five Weeks

Bloomberg reported that gas futures registered the biggest drop in five weeks on forecasts of warmer weather.

As quoted in the market report:

Gas fell as much as 9 percent, the biggest intraday drop in more than three years, after Commodity Weather Group LLC said cold weather in most of the U.S. this week would give way to above-normal temperatures from Jan. 7 through Jan. 11. The low in New York on Jan. 10 may be 37 degrees Fahrenheit (3 Celsius), 10 higher than usual, AccuWeather Inc. said.

To view the whole Bloomberg report, click here.