NEO_99
Forumer storico
Natural gas futures may decline as milder weather crimps demand for the heating fuel, a Bloomberg News survey showed.
Nine of 14 analysts, or 64 percent, forecast that gas futures will fall on the New York Mercantile Exchange through April 29. Three, or 21 percent, said futures will rise and two predicted that prices will stay the same. Last week, 40 percent of participants said gas prices would advance.
Warmer-than-normal weather is likely in the Northeast and part of the Great Lakes region next week, according to MDA EarthSat Weather in Rockville, Maryland. Temperatures may be as much as 14 degrees above normal in the mid-Atlantic, MDA said.
“Some of the factors driving up prices this week are going to go away,” said Phil Flynn, an analyst with PFGBest in Chicago. “I do think we’ll see some seasonal spring temperatures.”
Natural gas for May delivery climbed 20.8 cents, or 5 percent, to settle at $4.412 per million British thermal units this week on the New York exchange. The exchange will be closed for Good Friday.
The high temperature in New York on April 26 may be 70 degrees Fahrenheit (21 Celsius), 6 above normal, according to AccuWeather Inc. in State College, Pennsylvania.
The gas survey has correctly forecast the direction of prices 48 percent of the time since its June 2004 introduction.
Bloomberg’s survey of natural-gas analysts and traders asks for an assessment of whether Nymex natural-gas futures will probably rise, fall or remain neutral in the coming week. This week’s results were:
RISE FALL NEUTRAL
3 9 2
Nine of 14 analysts, or 64 percent, forecast that gas futures will fall on the New York Mercantile Exchange through April 29. Three, or 21 percent, said futures will rise and two predicted that prices will stay the same. Last week, 40 percent of participants said gas prices would advance.
Warmer-than-normal weather is likely in the Northeast and part of the Great Lakes region next week, according to MDA EarthSat Weather in Rockville, Maryland. Temperatures may be as much as 14 degrees above normal in the mid-Atlantic, MDA said.
“Some of the factors driving up prices this week are going to go away,” said Phil Flynn, an analyst with PFGBest in Chicago. “I do think we’ll see some seasonal spring temperatures.”
Natural gas for May delivery climbed 20.8 cents, or 5 percent, to settle at $4.412 per million British thermal units this week on the New York exchange. The exchange will be closed for Good Friday.
The high temperature in New York on April 26 may be 70 degrees Fahrenheit (21 Celsius), 6 above normal, according to AccuWeather Inc. in State College, Pennsylvania.
The gas survey has correctly forecast the direction of prices 48 percent of the time since its June 2004 introduction.
Bloomberg’s survey of natural-gas analysts and traders asks for an assessment of whether Nymex natural-gas futures will probably rise, fall or remain neutral in the coming week. This week’s results were:
RISE FALL NEUTRAL
3 9 2