Natural gas prices up 5% on production report

Energy , Natural Gas May 01, 2012 No Comments

Natural gasThe price of natural gas jumped by nearly 5 percent Monday after government data showed that producers are making good on promises to cut supplies. On Monday natural gas futures rose 9.9 cents to end the day at $2.285 per 1,000 cubic feet, the highest since March 21.

The Energy department’s Energy Information Administration reported that the industry’s effort to downshift production appears to be making a difference. Overall production in the U.S. came to 82.36 billion cubic feet per day in February, down 0.8 percent from January. Natural gas production was still 9.3 percent higher than a year ago, but analysts said any production drop was a promising sign.

via Natural gas prices up 5 pct. on production report – 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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