The weather doesn’t always follow traders’ hopes and expectations. However, it sometimes exceeds them. December and January saw a surge in natural gas prices in Asia as a cold spell caused a boom in electricity and heating demand. Now, U.S. gas prices are also enjoying an improvement, albeit a lot more moderate than the $30 per mmBtu the Asian spot market saw last month. The front-month Henry Hub contract for natural gas topped $3 this week after the first Nor’easter for the year brought snow and low temperatures to the U.S. Northeast.…
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