US natural gas futures tumble in January

摘要

US natural gas futures fell sharply in January as mild weather and rising production curbed demand and eased concerns about low inventories. Nymex prompt-month natural gas prices settled at $2.814/mn Btu at the end of January, down by 48.9c/mn Btu, or 15pc, from 28 December. Prices peaked during the month on 14 January at $3.591/mn Btu, following forecasts that a spell of unusu- ally cold weather would hit the midcontinent, but the prompt-month contract retreated as the cold snap proved to be short lived.