US natural gas futures jumped more than 14 percent to a six-week high, on Wednesday, on expectations of a cold snap later this month.
“January 2022 is set to be the coldest month since 2014,” analysts at (EPW Analytics Group) said, noting that an excess of US gas stocks will turn into a large deficit over the next five weeks.
US gas contracts for February delivery ended the trading session up 60.8 cents, or 14.3 percent, to settle at $4.857 per million British thermal units, the highest level since November 26.
This is the largest one-day increase in percentage terms of contracts for next month’s delivery since September 2020.
(Archyde.com)
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