Natural Gas Settles Above $4 at 19-Month High on Cold Weather
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Natural gas futures settled above $4 per million British thermal units for the first time since 2011 on forecasts of colder-than-normal April weather that would increase fuel demand, widening a year-on-year inventory deficit.
Gas gained 1.9 percent after MDA Weather Services in Gaithersburg, Maryland, predicted below-normal temperatures in the Midwest from April 1 through April 10. Stockpiles slid 90 billion cubic feet last week, according to the median of 18 analyst estimates compiled by Bloomberg. Supplies gained 45 billion in the same week last year.