US natural gas prices jumped to a two-year high of almost $4 per million British thermal units (mbtu) late last month. But the rally didn't last long. Last week prices sank by 12%, the worst weekly loss in a year, on forecasts of unusually warm weather. Around 50% of US homes use gas for heating, so winter weather is the main driver of demand.
Last month, freezing conditions meant that 600 billion cubic feet (bcf) of gas were taken out of storage in the three weeks in December, breaking a 20-year record, says Timothy Puko in Barron's. At this stage in the season, 400 bcf would be a typical figure for that timeframe.
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Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
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How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
