The power-generation and heating fuel traded as much as 10% higher Tuesday before paring gains and settling up 5.5% at $4.35 per million British thermal units. Prices have been rising at a time of when prices normally decline into spring and are 176% higher than a year ago. Analysts say that supply and demand fundamentals don’t justify the recent climb, which they attribute to speculators positioning for Trump’s trade war as well as a pledge by OPEC and its market allies to pump more crude, which could could reduce domestic oil drilling and thus the amount of gas that is unearthed as a byproduct.
