Mike Davis clears snow from the Millennium Park skating rink on March 5, 2013 in Chicago, Illinois.
But cold temperatures should be warming the hearts of
In a note today,
"Natural gas prices could bounce above the mark of $4 in the coming days," he says.
"Higher-than-normal nuclear power outages for this time of year have also been supportive," said Deutsche Bank's Xiao Fu. "Weather forecasts are calling for below-normal temperatures to persist in the six-to-10 day outlook across the eastern half of the US implying heating demand will remain elevated."
However, Schneider argues this is not likely to last for too long because of an expected recovery in nuclear power generation output and increased natural-gas-to coal switching.
Prices could fall to as low as $3.20 in Q2 2013, he Schneider.
Here's a look at how natgas prices have been trading:
