Friday, 03 April 2015 17:01

Natural Gas Prices Remain Aloft on Returns of Arctic Air

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Natural Gas contract for March delivery gains 4.60% to $6.41 today at international market at 1000 GMT.

The heating fuel gained on outlook of cold weather at northwest U.S. According to AccuWeather forecast on Philly region the unseasonable warmth has ended last week. Waves of arctic air and the polar vortex sinking southward will then make for a cold end to February.

Heating fuel demand gained the most this year since 2010 as cold weather sustains for long time. Below average temperature and high snow fall depleted natural gas inventory below five year average.

Inventory for the week ended on 14th Feb fell by 250 billion cubic feet. This week too we may see high withdrawal of inventory. In this year Natural Gas gained by 31.84% and remained top gainer among all other commodities.

We may see high prices of this energy commodity till the end of this month.

 

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