Wild Winter Burns Traders Betting on Models That Can’t Keep Up
- Changes from cold to warm and back lash temperatures, markets
- Pacific warmth will push out cold in the western U.S.
This article is for subscribers only.
There has been talk for some time that inconsistent, volatile and downright confusing weather patterns would loom over the U.S. this winter.
Traders in the natural-gas market can now attest to that. After they drove future contracts to a two-year high last week on expectations of a cold snap setting in across much of the country, the bottom fell out of the market Tuesday when that forecast fizzled. Prices sank as much as 12 percent.