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Natural Gas Rises on Cooler Overnight Forecasts - The Wall Street Journal

The Wall Street Journal · last updated

Natural Gas Rises on Cooler Overnight Forecasts - WSJ

Dec. 27, 2023 8:05 am ET

0759 ET – Natural gas futures move higher after overnight weather forecasts turn cooler, in volatile trade as the front-month switches to February with today’s expiration of the January contract. Gas for January delivery is up 4% at $2.652/mmBtu and February is up 3.7% at $2.508/mmBtu. Gas prices rose last week for the first time in seven weeks, with the approach of colder January weather expected to bring greater draws on inventories. “Warmer/bearish weather trends have led to only minor weakness, while colder trends have been met with a greater or more strongly bullish reaction higher,” forecaster NatGasWeather.com says in a report. ( anthony.harrup@wsj.com)

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