US Natural Gas Contracts Rise to Record Levels

US natural gas futures traded around $3.9 per million British thermal units in the third week of December, after hitting

US natural gas futures extended gains, after rising at the highest pace in two months, supported by snowstorms in parts of the country.

And futures contracts for January delivery rose 0.3% to $ 4.074 per million British thermal units on the New York Mercantile Exchange, after rising 2.3% earlier.

Gas demand is receiving a short-term boost due to colder-than-normal weather, and lower temperatures are expected on the West Coast and in the Midwest and Northeast from Jan. 2-6, according to forecasts from NOAA.