Natural-gas futures soar, on track for highest finish since December 2016

Natural-gas futures climbed by 6% on Friday, on track for the highest front-month contract settlement since December 2016, according to FactSet data. "As I look out my window and see snow falling, it appears the early onset of winter continues to boost speculation that we could see higher heating demand this year at a time when supplies are already running below average," said Colin Cieszynski, chief market strategist at SIA Wealth Management, who’s based in Ontario, Canada. December natural gas ngf18 rose 21.2 cents, or 6%, to trade at $2.755 per million British thermal units. The Energy Information Administration on Thursday reported a bigger-than-expected weekly rise in U.S. natural-gas supplies, but inventories in storage totaled 3.208 trillion cubic feet-621 billion cubic feet below the five-year average.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Source: Read Full Article