Friday, January 13, 2012

Natural Gas prediction jan 16 2012

Natural Gas prediction jan 16 2012 , gas price forecast week jan 16 - 20 2012, us gas prices, natural gas futures price january 16 2012 : The price of natural gas in the U.S. has plummeted as technological advancements have made it economic to produce natural gas in dense shale rock.

Natural gas futures closed at $2.67 per million British thermal units in trading Friday on the New York Mercantile Exchange. The price was more than $15 in 2005.

Natural gas prices fell last week, as warmer than expected weather conditions boosted speculations of falling demand for natural gas as a heating fuel. While the EIA report showed natural gas inventories decreased by 95 billion cubic feet, above estimates of a decrease by 89 billion cubic feet. Nonetheless, natural gas prices closed the week lower.

Gas supplies have ballooned since fall. On Thursday, the Energy Information Administration said supplies are 13.4 percent higher than what they were a year ago and 17 percent above the five-year average.

Natural gas prices declined on Friday, as forecasts pridicts milder weather across much of the U.S through late January, affecting demand for the furnace fuel.

Traders will be focused on the weather forecasts, as warm weather conditions are expected to weigh down on demand for natural gas, and that could push prices lower since demand for the heating fuel would decrease accordingly.

The EIA will release the weekly natural gas storage change for the week ending January 06, where the prior report showed that natural gas inventories decreased by 95 billion cubic feet. For the latest updates on the stock market, visit Stock Market Today
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