Natural Gas Futures Soar on Forecasts for Record Stockpile Drop
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Natural gas futures surged the most in 16 months on speculation that government data will show a record decline in U.S. stockpiles of the heating fuel as cold weather boosts demand.
Gas gained 5.5 percent, the largest increase since Sept. 11, 2012. An Energy Information Administration report Jan. 16 may show that supplies fell 303 billion cubic feet last week, surpassing the biggest-ever drop of 285 billion on Dec. 13, according to Citi Futures. MDA Weather Services predicted below-normal temperatures in the eastern U.S. from Jan. 18 to Jan. 27.