Cold Christmas? New York Gas Hits 2 Year High

Natural gas rose to the highest level in more than two years in New York as U.S. inventories declined amid lower temperatures. Investors increased bets on rising prices.

Futures for January delivery climbed as much as 2.6 percent to $4.532 per million British thermal on the New York Mercantile Exchange, the highest intraday price since July 2011. It traded at $4.511 at 10 a.m. in London. Prices have advanced 35 percent this year, set for a second annual gain.

U.S. gas stockpiles fell by 285 billion cubic feet in the week ended Dec. 13, the biggest volume drop in data going back to 1994, according to the Energy Information Administration, the Energy Department’s statistical arm. Supplies have decreased for five weeks to 3.248 trillion cubic feet.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu