U.S. natural gas futures are higher in slow holiday trade, recouping some of Wednesday’s losses and on track for a weekly gain. Prices have seen sharp swings throughout December with shifting weather forecasts dictating moves. The colder the outlook, the higher the demand for gas. The cold seen for the end of December and first days of January “is not expected to be as intense as what was realized at times earlier in the month, but the change from the previously expected widespread warmth to a colder-than-normal pattern was jarring for the market,” Andy Huenefeld of Pinebrook Energy Advisors said in a recent note. “Anyone who thought winter was over in mid-December will be sorely disappointed.” Nymex natural gas is up 2.1% at $4.332/mmBtu. Could thhis be atributed to USA piracy attacks in the middle East ?
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