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Natural Gas Futures Slide
Posted: 09/29/09
By: tomgrisafi
Natural gas futures slid Tuesday as substantial supplies of the fuel and weak demand weighed on the market.
Natural gas for November delivery on the New York Mercantile Exchange was trading 16.2 cents, or 3.35%, lower at $4.668 a million British thermal units.
October gas futures expired Monday and settled at $3.730/MMBtu, while November - which is now the front-month natural gas futures contract - settled Monday at $4.83/MMBtu.
As proclaimed in this morning's Wall Street Journal, November usually marks the beginning of winter heating season, when demand for the fuel to heat homes and businesses picks up.
Source: Wall Street Journal
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