Natural Gas Prices Fall From Highest Level in Eight Months

By Anonymous

Some analysts see gas prices resuming their upward trajectory in the coming days

Natural gas prices fell from eight-month highs Thursday on concerns over broader financial markets and after a weekly storage report showed U.S. gas stockpiles rose slightly more than expected.

Futures for November delivery ended 1.9% lower at $3.2220 a million British thermal units on the New York Mercantile Exchange. Prices closed Wednesday at $3.2840/mmBtu, the highest level since Jan. 29, and are up about 14% over the past month even after Thursday’s decline.