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November 5th, 2015
Natural-gas futures climbed by more than 3% on Thursday, set to log their highest settlement in more than a week, after a U.S. government report revealed a weekly climb in supplies for the commodity that was less than the market expected.
Natural-gas futures bucked the overall downtrend in energy prices, gaining more ground in the wake of the weekly supply data.
December natural gas tacked on 7.1 cents, or 3.1%, to $2.333 per million British thermal units. A settlement around this level would be the highest a most-active contract since Oct. 27.
The U.S. Energy Information Administration on Thursday reported that supplies of natural gas rose 52 billion cubic feet for the week ended Oct. 30. That was less than the climb of between 55 billion cubic feet and 59 billion cubic feet forecast by analysts polled by Platts.
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January 5th, 2015
Natural gas jumped a second day, extending a rally from a 27-month low as speculation an arctic air blast may boost demand made the fuel today’s biggest commodity gainer.
Futures for February delivery rose as much as 4.4 percent in electronic trading on the New York Mercantile Exchange. Gains were the most in the Bloomberg Commodity Index of 22 raw materials. Temperatures will be 15 to 25 degrees Fahrenheit below average from the Northern Plains to the Upper Great Lakes, the National Weather Service said in an advisory on its website.
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December 26th, 2014
Natural gas futures slumped below $3 per million British thermal units for the first time since 2012 on speculation that record production will overwhelm demand for the heating fuel.
Futures have plunged 27 percent in December, heading for the biggest one-month drop since July 2008, as mild weather and record production erased a surplus to year-ago levels for the first time in two years. Temperatures will be mostly above average in the eastern half of the U.S. through Dec. 30, according to Commodity Weather Group LLC.
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November 6th, 2014
Natural gas futures are holding at slight losses Thursday, even after producers set a record for stockpile additions in the last week of October.
A blast of Arctic air likely to descend next week is limiting a selloff as traders expect a rush of heating demand to start absorbing record supply from the U.S. drilling boom.
Producers capped a record year for storage refill with a 91-billion-cubic-feet addition to stockpiles last week, the U.S. Energy Information Administration said Thursday morning. That is 5 bcf larger than analysts’ and traders’ expectations, and more than double the typical addition for that week of the year. It is also 17% larger than any addition for the last week of October listed in EIA records dating back through 1994.
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October 30th, 2014
Natural gas futures rose for a third day in New York as forecasts showed below-normal temperatures that would stoke demand for the heating fuel.
The weather may be colder than usual in the eastern half of the U.S. through Nov. 3, according to MDA Weather Services in Gaithersburg, Maryland. The low in New York on Nov. 2 may be 39 degrees Fahrenheit (4 Celsius), 6 less than average, data from AccuWeather Inc. show.
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