Natural Gas Declines to Seven-Week Low on Moderating Weather

Energy , Natural Gas , Uncategorized Jun 18, 2011 No Comments

Natural gasNatural gas for July delivery fell 8.7 cents, or 2 percent, to $4.325 per million British thermal units on the New York Mercantile Exchange, the lowest settlement price since May 20. The futures dropped 9.1 percent this week, the first weekly decline since the five-days ended May 20.

June 17 (Bloomberg) — Natural gas futures fell to a seven- week low on forecasts of moderating temperatures that may reduce demand for the power-plant fuel.

Natural gas posted the first weekly decline since mid-May after forecasters including Commodity Weather Group LLC in Bethesda, Maryland,
predicted mostly normal temperatures in the central U.S. from June 22 through July 1.

via Natural Gas Declines to Seven-Week Low on Moderating Weather – Businessweek.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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