• Print
• E-Mail

Natural gas futures gained in New York amid speculation that cool weather will reduce inventory gains.

Natural gas for May delivery increased by 0.8 percent or 7.9 cents to 9.87 per million British thermal units on the New York Mercantile Exchange, after prices declined by 5 percent yesterday.

Low temperatures may set-in next week in the Northeast and Midwest which will increase heating demands.

The U.S Energy Department said gas inventories in the U.S. fell to 1.248 trillion cubic feet at the end of March lower than 304 billion last year.

Demand for electricity from natural gas-fired power plants to run air conditioners, was forecasted to increase as high temperatures set-in during the summer.