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Saturday, August 22, 2009

Natural-gas prices end at fresh 7-year low

Natural-gas futures fell sharply to end at a fresh seven-year low on
Friday as a glut in supplies and weak demand encouraged traders to
continue to sell natural gas. September natural-gas futures fell 14.10
cents, or 4.8%, to finish at $2.804 per million British thermal units on
the New York Mercantile Exchange. That is the lowest closing level for a
front-month contract since Aug. 9, 2002, when prices ended at $2.761,
according to data from CME Group. For the week, natural-gas prices
tumbled 43.40 cents, or 13.4%, from last Friday's closing level of $3.238.
Posted by appleadvisory at 8/22/2009 04:32:00 AM

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