Monday, August 20, 2007

Natural Gas Takes Beating

That's the headline over at the WSJ's Energy Roundup.

Christine Buurma of Dow Jones Newswires checks in on the natural-gas markets as Hurricane Dean churns toward Mexico:

Natural-gas futures plunged more than 10% Monday as commodities funds continued to sell amid forecasts showing Hurricane Dean bypassing critical U.S. energy infrastructure in the Gulf of Mexico on its way to Mexico’s Yucatan Peninsula and Belize.

Natural gas for September delivery on the New York Mercantile Exchange was trading 74.7 cents lower, or 10.66%, at $6.263 a million British thermal units Monday afternoon after reaching a one-week low of $6.228/MMBtu....More