NYMEX January gas jumps with anticipated cooler weather

摘要

The NYMEX January natural gas contract rose Thursday, with weatherforecasts predicting cooler weather in the Midcontinent.The front-month contract rose 2.8 cents to settle at $2.427/MMBtu,trading in a range of $2.396/MMBtu and $2.463/MMBtu."I think overall the [19 Bcf] withdrawal seems to be fairly close tothe market's expectations. It may have been a little less bearish thanwhat people expected given the milder weather last week andreduced demand during the Thanksgiving holiday," said DanielMyers, market analyst at Gelber & Associates. "Overall, the market islooking past this withdrawal and looking forward to colder weatherin the next couple of weeks."