Chris Kostas News
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Natural gas prices in the U.S. Northeast are poised to reach five-year seasonal highs this summer because increasing demand from power plants may be too much for pipelines to handle.
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Eastern U.S. wholesale electricity gained a below-normal temperatures boosted demand.
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Natural gas futures may decline as a technical indicator based on moving averages turns bearish, according to Energy Security Analysis Inc.
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The U.S. Northeast is expected to be warmer than normal through February before encountering another cold snap in March, according to Weather Services International .
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Natural gas futures gained for a sixth day in New York, rising to a 10-month high, on speculation that cold weather next week will boost demand for heating fuels.
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Natural gas may fall below $4 per million British thermal units if the August contract breaks below a key supporting level, according to a technical analysis by Chris Kostas , a senior analyst at Energy Security Analysis Inc. in Wakefield, Massachusetts.
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U.S. natural gas futures fell for a sixth day as forecasts for unusually mild February weather signaled reduced demand for the heating fuel.
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Natural gas is trading in the tightest range in eight years as rising U.S. production pushes inventory levels close to last year’s record, undermining profit for traders who thrive on price swings.
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The southern half of the U.S. with the exception of Florida and California is forecast to see higher-than-normal temperatures through February, according to Weather Services International.
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The coming winter will probably be colder than average in the eastern U.S., creating a greater demand for heating fuels, according to forecasts that disagree over how bitter the weather will get.
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