Natural gas futures strengthened as traders reacted to bullish weather forecasts for most of the U.S. over the next coming weeks, which should fuel heating demand. Natgas prices typically rise ahead of the winter as colder weather adds to heating demand, with November through March as the peak period for U.S. gas consumption, according to Investing.com.
“With natural gas inventories still 15 percent below the five-year average, investment bank Barclays sees room for higher prices even if weather normalizes during the rest of winter,” reports CNBC. “Barclays is currently forecasting Henry Hub prices to average $3.51 per mmBtu in the first quarter and $2.92 per mmBtu for the full year.”
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