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Natural Gas Stocks Pop As Winter Weather Woes Predicted This Week

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Natural Gas Stocks Pop As Winter Weather Woes Predicted This Week

Shares of natural gas companies surged following predictions of continued colder weather around New Year's.

The National Weather Service said a significant winter storm will bring heavy snow, blowing and drifting snow, and a storm surge of 4–6 feet to western Alaska.

Along the eastern coast, a storm forecast to hit later this week may bring a foot or more of snow to New England. Snow and strong winds gusting 50–65 mph will continue through the Rockies and High Plains.

Natural gas prices tend to rise in colder days due to strong demand for heating. Natural gas futures for January delivery rose 4.57 percent to $3.93.

Back in October, Johnson Rice analyst John Rowan told Benzinga that he sees natural gas prices above $4.00 by March and above $5.00 by next summer before settling down into the $3–4 range in the long term.

At Last Check

  • VelocityShares 3X Long Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (NYSE: UGAZ) had risen 10.70 percent to $51.42.
  • United States Natural Gas Fund, LP (NYSE: UNG) had increased 3.64 percent to $9.67.

Posted-In: John Rowan Johnson RiceAnalyst Color News Commodities Markets Movers Trading Ideas Best of Benzinga

 

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