Tuesday, January 23, 2007

NatGas Futures Prices Up

MarketWatch:
February natural gas rallied 33.4 cents, or 4.9%, to $7.22 per million British thermal units. It traded as high as $7.23, its strongest level since Dec. 18, buoyed by colder weather forecasts for parts of the nation. February crude climbed 76 cents to $52.75 a barrel. The energy market "seems to be embracing a shift in the weather pattern to an extended period of colder temperatures, which will improve the demand outlook," Michael Fitzpatrick, an analyst at Fimat USA, said in a research note Monday.