U.S. natural gas prices plunged on Tuesday amid forecasts that temperatures will be average or higher across most population centers by the middle of January. Earlier forecasts had predicted colder temperatures would persist through most of January, boosting heating demand. But the correction in gas prices comes after hedge funds had amassed unusually large bullish bets, helping drive prices up by more than 40 percent in the last two months. Once some of the frothiness caused by the big build up of hedge fund positions has been blown off, prices are likely to continue trending upwards in 2017. POLAR VORTEX Futures prices for gas delivered to Henry Hub in February fell on Tuesday by almost 40 cents per million British thermal units, or nearly 11 percent. Prices for gas delivered in July were down more than 25 cents, or around 7 percent, compared with the previous close. The trigger […]