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U.S. Natural Gas Holds Gains After Biggest Jump in Eight Years

Forecasts show chilly weather extending into late November
Stockpiles lowest since 2003 as demand rises; exports climb

Inside The AEP Appalachian Co. Natural Gas Combined Cycle Plant — Photographer: Ty Wright/Bloomberg

By

Christine Buurma and

Rachel Adams-Heard

November 14, 2018, 12:27 PM UTCUpdated onNovember 15, 2018, 2:02 AM UTC

Natural gas took a breather after its biggest gain in eight years as forecasts for lingering U.S. cold spurred concern supplies may not be enough to meet winter demand.

Gas for December delivery eased 3.1 percent Thursday morning in Asia after surging 18 percent to settle at $4.837 per million British thermal units, the highest since the “polar vortex” of early 2014 that spread an Arctic chill to the Midwest and East. The volume of trading on the New York Mercantile Exchange was was nearly triple the 100-day average.