By - Apr 20, 2011 2:23 PM ET
Canadian natural-gas prices rose as hot weather in the U.S. South boosts air-conditioner use and demand for power-plant fuels.
Cooling needs across the U.S. will be 70 percent above normal tomorrow and top out at 77 percent higher April 24, according to Belton, Missouri-based Weather Derivatives. Temperatures in Houston may touch 90 degrees Fahrenheit (32 Celsius) today, about 10 degrees hotter than normal, said AccuWeather Inc. in State College, Pennsylvania.
“There are some warmer-than-normal temperatures in the southern U.S.,” said Tim Evans, energy analyst for Citi Futures Perspective in New York. Natural gas is facing less competition from nuclear plants because of seasonal maintenance, he said.
Read more: http://www.bloomberg.com/news/2011-04-20/canada-natural-gas-rises-on-increased-u-s-air-conditioner-use.html