NatGas Prices Make Huge Drop on Prospect of Warmer Weather

Well, that didn't take long. Yesterday we told you about the huge jump in the price of natural gas, both the futures price and the spot (physically traded) price, due to the brutal cold snap much of the country is currently experiencing (see NatGas Prices Make Huge Jump on Deep Freeze – Some M-U Prices 4X). The National Oceanic and Atmospheric Administration (NOAA) released a weather map for next week (Jan. 22-26) that shows the entire country will most likely experience temperatures above normal. That's all it took to whack both the futures and spot prices for natural gas.

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