Natural Gas Prices Fall From Eight-Month High

By Anonymous

Prices may resume an upward trajectory later in week, as EIA is set to release its weekly storage report Thursday

Natural gas prices fell from eight-month highs Wednesday as investors booked profits before looking ahead toward a weekly U.S. storage report and still-hot temperatures in the West.

Futures for October delivery, whose contract expired Wednesday, fell 2% to end at $3.0210 a million British thermal units on the New York Mercantile Exchange. The decline snaps a four-session streak of price increases and a settle price Tuesday of $3.0820/mmBtu that was the highest close since Jan. 30.