Natural Gas Rises to Three-Week High on Gulf Storm Speculation
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Natural gas rose to the highest price in more than three weeks on speculation that a tropical weather system may develop in the Caribbean early next week and threaten energy production regions of the Gulf of Mexico.
Gas rose as an analysis of noon data from the National Weather Service showed that a storm may grow in the southeastern Caribbean and head toward New Orleans by Sept. 30, according to Matt Rogers, a forecaster with Commodity Weather Group LLC in Bethesda, Maryland. Gas fell earlier after a government report showed that U.S. inventories rose more than forecast last week.