“Widow Maker” no more? Nat Gas heads for largest yearly gain since 2005

Natural gas is set for the biggest annual gain in eight years in New York amid speculation a cold start to 2014 in the U.S. may boost demand for the heating fuel.

Futures for February delivery rose as much as 0.4 percent to $4.446 per million British thermal units in electronic trading on the New York Mercantile Exchange and were at $4.443 at 9:26 a.m. Singapore time. It climbed 1.4 percent to $4.427 yesterday. The volume of all contracts traded was about 82 percent less than the 100-day average. Prices are up 33 percent this year, the most since an 83 percent surge in 2005.

Commodity Weather Group LLC predicted a push of below-normal temperatures into the Northeast, Midwest and South through Jan. 8. The high in New York City on Jan. 3 will be 18 degrees Fahrenheit (minus 8 Celsius), 21 below normal, according to AccuWeather Inc.


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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