For the third time in four days natural gas futures dropped in New York amid speculation that a mild temperature will reduce the heating needs as the production increases.
According to Commodity Weather Group LLC, the temperatures will be steady and above normal for the next five days in most of the 48 states before the readings will fall to seasonal levels. Government data also reveals that output from U.S. shale deposits will climb 1.4 percent in November.
Bob Yawger, director of the futures division at Mizuho Securities USA Inc. in New York said, “There’s that wave of heat that is coming across the midcontinent and once we clear Wednesday you start to slide to seasonal to below-normal levels. You would think you would get a little bit of demand at that point. The production numbers just overwhelm any kind of temperature situation you have; that’s really the bottom line.’’why does cialis cost so much