Mild weather undermines natural gas price

01/23/2006
Continued mild weather and a bearish report on US natural gas storage undermined the natural gas market in the week ended Jan. 13, with prices falling in all five daily sessions.The February natural gas contract lost a total of 84.1¢ during the week to close at $8.79/MMbtu Jan. 13 on the New York Mercantile Exchange. That was the lowest closing price for a front-month natural gas contract since Aug. 9, when the September contract closed at $8.65/MMbtu. Ironically, it was in the following session on Aug. 10 that the front-month closed at $9.07, marking the first time since November 2004 that it had surpassed $9/MMbtu. It took 9 months for the front-month gas contract to break that bar...
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