Natural Gas Falls On Spell Of Balmy US Weather
Natural gas prices are falling again as balmy weather stretches across most of the nation and supplies remain plentiful. Natural gas dropped 5 cents to $2.215 per 1,000 cubic feet in trading in New York. That’s the lowest price in a decade. The price has dropped about 26 percent this year.
Warm winter weather has allowed Americans to use less heat. And booming production is keeping stockpiles well above the five-year average.
Meanwhile, benchmark oil rose 20 cents to $106.54 per barrel. An increase in retail sales provided the latest sign of an improving economy. Brent crude rose 16 cents to $125.50 per barrel in London trading.
At the pump, AAA says the national average for retail gas rose less than a penny to $3.805 per gallon.