Monday, January 26, 2015

Natural gas futures drop 3% despite Northeast blizzard

Most active, March's, $2.838 down 12.0 cents.
From - U.S. natural gas prices fell sharply on Monday, despite forecasts for heavy snowfall in the heavily populated Northeast region over the next two days.

On the New York Mercantile Exchange, natural gas for delivery in March tumbled 6.8 cents, or 2.3%, to trade at $2.890 per million British thermal units during U.S. morning hours, after hitting a daily low of $2.821.

On Friday, natural gas surged 13.1 cents, or 4.63%, to settle at $2.958.

Futures were likely to find support at $2.762 per million British thermal units, the low from January 22, and resistance at $2.967, the high from January 23.

The National Weather Service said that the storm would bring heavy snow, powerful winds and widespread coastal flooding through Tuesday....MORE
The recent action via FinViz: