NEW YORK: US natural gas futures gained more than 3% ahead of the expiry of the front-month March contract on Friday on forecasts for colder weather and higher heating demand over the next two weeks than previously expected. The contract has risen 5.5% so far this week, after briefly dropping below $2 per mmBtu earlier this week. With cold weather coming, Refinitiv forecast US gas demand, including exports, would rise from 119.0 billion cubic feet per day this week to 121.4 bcfd next week. Freeport LNG, when operating at full power, can turn about 2.1 bcfd of gas into liquefied natural gas for export. However, energy regulators and analysts, have said they do not expect Freeport LNG to return to full commercial operation until mid-March or later.
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