Gas Caps First Monthly Gain Since June on New York Cold Outlook
- Once forecasts for cold arrived, futures prices rebounded
- Year's loss cut in half; weekly gain most since February 2014
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New Yorkers who basked in Florida-like weather this month are going to have to dig out winter gear next week. That prospect stoked a record year-end rally in U.S. natural gas to cap the first monthly gain since June.
Gas futures surged 28 percent since mid-December, the biggest rebound for the period in New York Mercantile Exchange data going back to 1990. They extended gains after a government report showed the biggest supply drop in three weeks.