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Friday, December 30, 2011

Natural gas price forecast january 2 2012

Natural gas price forecast january 2 2012 : Natural gas futures have dropped below $3 for the first time in more than two years as forecasts of mild weather in the US and record production contribute to a growing stockpile surplus.

Gas is heading toward a 32 per cent annual drop, the biggest decline since 2006. Mild weather is forecast for mid-January after a brief cold spell, according to MDA Earth Sat Weather in Gaithersburg, Maryland.

An energy department report yesterday showed a smaller-than-average decline in inventories of the heating fuel as shale-gas production gained.

“Unless the weather changes dramatically, we are on track for the highest year- end storage ever,” said Phil Flynn, a senior market analyst at PFGBest Research in Chicago.Natural gas were little changed on the last trading day in 2011, while meteorologists predicted colder weather than before next week, and that could boost the demand on natural gas in the next few days.

Traders will continue to focus on weather developments, where weather forecasts suggest temperatures will be likely lower than average over the coming period, and that could put natural gas between gains and losses.For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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