U.S. natural gas futures have extended their rally, jumping nearly 10% on Monday’s session following forecasts for much colder weather as well as higher heating demand through late December than previously expected. Colder weather is likely to force utilities to pull more gas from storage, with storage levels already ~1.5% below the five-year average for this time of year. The cold snap is expected to start next weekend and peak right on Christmas in the bulk of the country. Meanwhile, the deep freeze in Europe shows…
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