Weather and a little more weather is what is driving Nat Gas prices and will continue to do so as we are now in the heart of the winter heating season. Unfortunately for the remaining bulls the current weather forecast is bearish. The latest NOAA six to ten day and eight to fourteen day forecasts are projecting above normal temperatures across the eastern half of the US or the part of the country that generally uses the largest amount of Nat Gas for meeting heating requirements. Based on the latest temperature projections the first half of January is likely to average below normal Nat Gas heating related demand leaving little time for real winter like weather to actually set in and have a bullish impact on the supply and demand balances.
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