(Photo: CBC News, Manitoba)
By Robert Scott / Market Realist
In the past five trading sessions, natural gas (UNG ) (BOIL ) March futures have fallen 5.3%, closing at ~$3.17 per MMBtu (million British thermal units) on February 1, 2017—about 1.6% higher than the previous session.
The rise in natural gas prices on February 1, 2017, corresponds to the forecast of lower temperatures. However, higher temperatures led the fall in natural gas prices in the trailing week. Weather is an important driver for natural gas prices.