A two-year slump in natural gas prices appears to be over.
Prices hit their highest point since January, 2006, this week - underlying the drive by energy companies to bring new sources of gas on stream, and also the rising gas bills consumers are likely to face.
On the New York Mercantile Exchange late Tuesday, natural gas price futures hit $11.79 (U.S.) per million British thermal units, a figure that's strong both historically and seasonally. April and May is the "shoulder season," the period between winter heating and summer air conditioning during which gas prices are supposed to drop because demand is low.
That hasn't happened this year, not least because of the strength of oil; both gas and heating oil can be used for generating power for heating, so gas prices tend to track those of crude.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment