CTP 3.85% 12.5¢ central petroleum limited

natural gas prices leap

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    Natural gas prices leap


    NYMEX - Natural gas prices jumped after the government reported that supplies fell by the largest amount ever for this time of year as frigid weather chilled parts of the US Midwest and Northeast.

    A wintry mix of rain and snow kept heaters cranked on high, consuming large stores of natural gas in some of the largest US markets, such as Chicago.

    The natural gas contract for January delivery climbed 33.4 cents, about six per cent, to $US5.796 per 1,000 cubic feet on the New York Mercantile Exchange.

    Oil had fallen on profit taking and a stronger US dollar.

    In late trade the benchmark crude for January delivery had recovered to be up 12 cents at $US72.78 a barrel.

    In London, Brent crude for February delivery fell $1.72 to $72.57 on the ICE Futures exchange.

    COMEX - Gold for February delivery fell by $US28.80 to $US1,107.40 an ounce, hit by a stronger US dollar.
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