BLBG:U.S. Natural Gas Rises for a Fourth Day on Cold Weather Outlook
Natural gas futures climbed for a fourth day in New York on forecasts for below-normal temperatures that would stoke demand for the heating fuel.
Gas gained 0.8 percent after closing yesterday at the highest level in almost four months. Commodity Weather Group LLC in Bethesda, Maryland, said the weather may be colder than average in the central U.S. from Oct. 19 through Oct. 28. The low in Milwaukee on Oct. 31 may be 33 degrees Fahrenheit (0.6 Celsius), 5 degrees less than usual, according to AccuWeather Inc. in State College, Pennsylvania.
Natural gas for November delivery rose 3.2 cents to $3.852 per million British thermal units in electronic trading on the New York Mercantile Exchange at 11:47 a.m. in London after closing yesterday at $3.82, the highest settlement since June 20. Trading volume was about 43 percent above the 100-day average. Prices have gained 15 percent this year.
To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net
To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net
