ETC Natural Gas (17 lettori)
- Creatore Discussione NEO_99
- Data di Inizio
acetrato
Forumer attivo
a questo punto non drovemmo scendere
emmeemme
Forumer attivo
NEO_99
Forumer storico
in alto a destra dove metti nick e pass .. Spunta la casella " ricordami "
emmeemme
Forumer attivo
grazie
NEO_99
Forumer storico
grazie
NEW YORK (Dow Jones)--Natural gas futures climbed Monday to their highest levels since early August, surging by more than 5% as forecasts for cold temperatures across the U.S. lifted demand expectations for the heating fuel.
Natural gas for February delivery recently traded 23 cents, or 5.2% higher, at $4.635 a million British thermal units on the New York Mercantile Exchange. Futures earlier Monday rose as high as $4.650/MMBtu, the highest intraday price since Aug. 5.
Cold weather is seen for much of the U.S. and western Canada beginning this weekend. Meteorologists with private forecaster Commodity Weather Group see colder-than-normal temperatures Jan. 8-17, with severe cold in the Northwest and Midwest.
"Over the holiday weekend, the models progressed the major cold threat forward," CWG forecasters wrote in a client note. "Widespread cold weather is indicated over most of the U.S. for the 6-10 and 11-15 day" forecast periods.
"The only thing that matters this time of year is weather," said Ed Kennedy, a senior vice president of energy trading at INTL Hencorp Futures. Many forecasters had previously called for a mild January, and the emerging consensus that the month will be colder than expected supported gas prices Monday, Kennedy said.
"It's a momentum trade right now," said Robert Yawger, senior vice president of energy futures with MF Global. Yawger said that with many large market participants holding bets that futures would fall, a shift in market sentiment could spur rallies toward $5/MMBtu as those participants balance out their positions.
The benchmark gas futures contract is up about 7% from Thursday's close.
The natural gas market had been bound in choppy trading in recent weeks, rising when forecasts turned colder, but with gains limited by ample stockpiles. The amount of natural gas in U.S. storage as of Dec. 24 stood at 3.232 trillion cubic feet, more than 8% above the five-year average, the Energy Information Administration said last week.
Monday's weather forecasts likely mean that coming storage withdrawals will be larger than normal through the middle of the month, said Jim Ritterbusch, of trading advisory firm Ritterbusch and Associates, in a client note.
The supply overhang pressured futures lower for much of the past year. The benchmark futures contract ended 2010 down 20.9% from year-earlier levels, as production growth from North American shale-rock formations overwhelmed demand.
carletto84
Forumer storico
quanto puo durare il gap aperto?