(VIANEWS) – U.S. Natural Gas Futures saw a significant increase after the largest jump in 2 months. This was due to snowstorms in some parts of the United States.

Bloomberg Quint confirmed that January futures rose 1.7%, to $4.127 per mmbtu by 10:13 a.m. Singapore time on the New York Mercantile Exchange. For the largest one-day gain since Oct. 25, 8.8% was recorded in Monday’s contract, which settled at $4.06 (up 8.8%).

The chillier than normal weather is causing a temporary boost in gas demand. According to NOAA forecasts, temperatures are predicted to drop on the West Coast and the Midwest from January 2-6. Already, flights were cancelled in Seattle due to winter storms. More delays can be expected.

Natural Gas (NG) is currently on bullish momentum. At 01:51 EST on Tuesday, 28 December, Natural Gas (NG) is at $4.14 and 1.95% up since the last session’s close.

Volume

Today’s last reported volume for Natural Gas is 1214, 99.99% below its average volume of 22658348605.7.

Natural Gas Range

Regarding Natural Gas’s daily highs and lows, it’s 2.172% up from its trailing 24 hours low of $4.05 and 0.976% up from its trailing 24 hours high of $4.10.

Volatility

Natural Gas’s last week, last month’s, and last quarter’s current intraday variation average was a positive 0.67%, a negative 1.21%, and a positive 4.16%, respectively.

Natural Gas’s highest amplitude of average volatility was 5.01% (last week), 3.44% (last month), and 4.16% (last quarter), respectively.

Commodity Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Natural Gas’s commodity is considered to be oversold (<=20).

More news about Natural Gas (NG).

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