Gas Futures Gain Nearly 5% on Week

摘要

November natural gas futures posted a gain of 10.6￠, or 4.8%, last week to close Friday at $2.32/MMBtu, as widespread cold weather forecasts promise a boost to heating demand later in the month. An early-week rally fell apart Wednesday, with the contract dropping 1.5% “as traders booked profits before the realization of an especially bearish storage build last week could take away their gains,” Gelber & Associates analyst Daniel Myers said.