Both natural gas cash and futures staged stout gains in trading Monday, in spite of a weather environment that looked anything but supportive. Leading the pack to new highs were Marcellus points, but no points followed by NGI showed losses.
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Weekly NatGas, Futures Diverge; January Vaults 26 Cents
In what might be a sign of things to come, natural gas futures moved higher, in spite of weekly physical natural gas prices continuing lower. The NGI Weekly Spot Gas Average fell 11 cents to $1.60, but January futures jumped over 25 cents.
NOAA: Variable Winter Patterns Challenge Forecasters
The absence of La Nina and El Nino in the equatorial Pacific Ocean this year has made predicting seasonal weather patterns more challenging, the National Oceanic and Atmospheric Administration (NOAA) said Thursday. Based on other climate patterns, forecasters now expect this year’s winter season to be warmer than normal across the central part of the nation with dryer conditions to continue in the Southeast.