Thursday, March 25, 2010

Natural Gas Futures Plunge

Natural Gas Futures

After a government report stating for the first time in 2010 natural gas inventory grew, natural gas futures prices plunged in response.

The extremely cold winter has generated increased demand for the fuel, but the warmer weather and slow drawdown couldn't cut the large surpluses, with gas levels moving to 8 percent higher than the five-year average.

Natural gas fell 15.9 cents for April delivery to $3.946 per 1,000 cubic feet on the NYMEX. It dropped as low as $3.940, the lowest ever recorded for an April contract.

Natural Gas Futures

No comments: