Gas prices Tuesday rose to a maximum of 3 weeks

Natural gas prices in the United States on Tuesday to close at 3-week high, as markets are hoping that the cold snap will trigger the growth of demand.

December delivery of natural gas have finished a session on NYMEX Tuesday with an increase of 3.2 cents, or 1.1% to 2.9820 dollars per million BTU, the highest point on October 31. Quotes showed growth in four of the last five sessions.

Predictions foretelling cooling, supported by natural gas prices, whereas in previous week the weather was warmer than usual. According to Andy Hyunefelda of Kinect Energy Group, the beginning of the winter season a positive impact on gas prices, as rising demand will lead to a reduction in record stores.

Investors are also waiting for data on gas reserves from the Department of Energy on Wednesday. The data should reveal whether stocks due to reduced growth in demand. According to analysts and brokers surveyed by The Wall Street Journal, gas reserves in the week of November 12-18 increased by 4 billion cubic feet.

Analysts pointed out that the trading activity in the coming days will be restrained because of the shortened holiday week. In the future dynamics of the price of gas will continue to be driven primarily by the weather forecasts.

"Expectations about the spread of the cold weather on the US west boosted prices. At the same time, the normalization on the East Coast Air temperature and abundant gas reserves prevent increase in gas prices"- wrote Robbie Fraser, an analyst at Schneider Electric.