Natural Gas Prices Hit Highest Point in Nearly Two Years
U.S. natural gas futures spiked to the highest level since January 2015 on Monday, as the outlook for a colder winter boosted demand expectations for the heating fuel.
Natural gas for delivery in November on the New York Mercantile Exchange rose nearly 2% to a daily peak of $3.256 per million British thermal units, a level not seen since January 15, 2015.
It was last at $3.253 by 10:40AM ET (14:40GMT), up 6.0 cents, or 1.88%.
There will be no floor trading on the Nymex on Monday because of the Columbus Day holiday in the U.S. All electronic transactions will be booked with Tuesday's trades for settlement.
On Friday, the November natural gas contract surged 14.4 cents, or 4.72%, after updated weather forecasting models pointed to unseasonably cold temperatures across the northeastern and north-central U.S. through October 20.Read the whole article by clicking here.
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