Natural gas prices ease on anticipated milder weather in the US

12/28/05 - newratings.com

NEW YORK, December 28 (newratings.com) – Natural gas prices Wednesday eased further, following a 10% decline on Tuesday, on forecasts of warmer weather in the US alleviating demand concerns in the world's largest energy consuming nation.

According to the National Weather Service, most parts of the US are expected to witness higher-than-normal temperatures from January 1 through January 9. Natural gas for January delivery declined $1.261 to close at $11.022 per 1,000 cubic feet on the New York Mercantile Exchange on Tuesday, hitting the lowest closing price since September 13. Natural gas slid 7.2¢ to $10.95 per 1,000 cubic feet on Wednesday. Light, sweet crude for February delivery fell 39¢, or 0.7%, to $57.77 per barrel in after-hours electronic trading on the New York Mercantile Exchange on Wednesday.