December cold increases energy prices

After a warm November that undercut demand, energy prices rallied in early December on indications of sustained US economic growth and predictions for below-normal temperatures in key markets through at least midmonth.AccuWeather Inc. predicted a “mother lode” of arctic air would trigger “some of the most widespread cold ever” during December. As a result, heating demand in the Northeast US is expected to be 18% above normal.“In November, the energy market hosted a battle between short-term weather speculators selling off on the unusually warm November climate and longer-term, rational investors buying in behind strong energy fundamentals and the high probabi...

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