Natural Gas Surges as Forecasts Show Arctic Cold Persisting
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Natural gas futures jumped in New York, rising for the first time in four days, on forecasts for a polar blast that would deplete stockpiles of the heating fuel.
Gas gained 9.6 percent as MDA Weather Services predicted below-normal temperatures in most of the lower-48 states through Feb. 13. An Energy Information Administration report Feb. 6 may show that inventories slid by 266 billion cubic feet last week, up from the five-year average decrease of 151 billion, according to the median of seven analyst estimates compiled by Bloomberg.