Models Maintain Potential for Mid-Month Cold as January Natural Gas Advances Early

Natural gas futures climbed in early trading Wednesday as models continued to tease colder temperatures arriving around the middle of the month. The January Nymex contract was up 3.3 cents to $2.913/MMBtu at around 8:40 a.m. ET.

Trends in the major weather models were mixed over the previous 24 hours, Bespoke Weather Services said early Wednesday, noting that it made only minor revisions to its latest forecast. The firm said its overall gas-weighted degree day projections for the next 15 days diverge to the warm side of five- and 10-year norms.

“That’s not to say there is nothing bullish from the data, as we still see potential for some stronger cold to get involved in the pattern toward the middle of the month, at least in the central U.S., as the pattern morphs into one...