Gas Futures Plunge Nearly 8%

Energy , Natural Gas Feb 01, 2012 No Comments

Natural gasNatural-gas futures plummeted 7.7%—the biggest one-day percentage decline in more than 18 months—as traders were disappointed natural-gas producers hadn’t announced further cutbacks due to low prices.

Futures prices for March delivery were down nearly 8.6% at their lowest point during the session, before recovering slightly to end the day 21 cents lower, at $2.503 per million British thermal units, on the New York Mercantile Exchange. The settlement price was the lowest since Jan. 20, and the drop was the biggest since April 29, 2010.

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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

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