Commodities & Metals

Natural Gas Price Falls Below $6 as Next Arctic Blast Approaches

139716013
Thinkstock
Natural gas prices climbed above $6 per million BTUs on Wednesday for the first time in 5 years. The price peaked at around $6.30 in intraday trading on Thursday but has fallen below $6 a couple of times today. Today’s price movements are a bit of a surprise given the outlook for the weather in the Midwest and the Northeast for the next several days.

Another blast of cold air is expected to drop temperatures to below zero readings in the upper Midwest and northern Plains and into the single digits for most of the Northeast. The cold is also expected to push into the southeastern U.S.That’s anywhere from 10 to 25 degrees colder than normal.

The continuing cold weather may last into the first week of March over a region of the country that is heavily populated and uses a lot of natural gas at any time. As we noted yesterday, there is a chance that U.S. natural gas stockpiles will fall below 1 trillion cubic feet by the end of March. Given the outlook for the next 15 days, that level could be reached even earlier.

The United States Natural Gas Fund (NYSEMKT: UNG) is up 1.3% in early afternoon trading on Friday at $27.14 in a 52-week range of $16.59 to $27.58. The price came with a few cents of the high earlier this morning.

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.