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With bulls able to shake off an exceptionally delicate near 2023, pure fuel futures surged early Thursday as forecasts marketed notably extra frigid situations into mid-January.
The February Nymex contract was up 15.7 cents to $2.825/MMBtu at round 8:40 a.m. ET. March was up 9.9 cents to $2.547.
Climate fashions trended colder in a single day and confirmed a “frosty” outlook for the Jan. 13-17 timeframe, in response to NatGasWeather.
Based mostly on up to date forecasts, the following eight days have been on observe to ship “close to to barely lighter than regular” demand for pure fuel nationally whilst climate methods have been projected to deliver rain and snow to the Decrease 48, together with a “well-hyped storm over the Northeast this weekend,” the agency mentioned.
“Demand will nonetheless be higher the…
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