Gas Traders Are Giving Up on U.S. Winter Before It’s Begun

‘Widow maker’ spread touched a record low in trading Friday
Forecasters warn against assuming winter will be warm

An American flag flies at a gas refinery in Kentucky.
Photographer: Luke Sharrett/Bloomberg

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By Brian K Sullivan and Naureen S Malik

November 4, 2016 at 9:11 PM UTC

Updated on

November 5, 2016 at 9:00 AM UTC

This article is for subscribers only.

Natural gas bears wagering on a no-show U.S. winter may be in for a frosty surprise.

Gas for delivery next March traded at the lowest premium on record to the April 2017 contract Friday, signaling that traders see little risk of another Polar Vortex in the months ahead.