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Reuters reported that front-month US natural gas futures rose for the fifth day in a row; however, other months were pulled down by forecasts that weather in the US next week will be mild.
Reuters reported that front-month US natural gas futures rose for the fifth day in a row; however, other months were pulled down by forecasts that weather in the US next week will be mild.
As quoted in the market news:
An unexpectedly light weekly inventory build and some cool weather this week helped drive the nearby contract up nearly 4 percent on Thursday. For the week, the contract gained 6.3 percent as cold weather this week stirred decent heating demand.
Front-month gas futures on the New York Mercantile Exchange, the day’s only gainer, ended up 0.7 cent at $3.611 per million British thermal units after climbing early to a new 2012 high of $3.638. Other months finished 2.3 to 4.6 cents lower.