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Natural-gas futures jump by nearly 6%; oil settles lower

36773 natural gas futures jump by nearly 6 oil settles lower

Natural-gas prices rallied Tuesday, buoyed by the recent rise in coal prices amid a proposed European ban on Russian energy. The long-term focus for the energy market will be how quickly the European Union can move away from Russian coal, oil and natural gas, said Phil Flynn, senior market analyst at The Price Futures Group. May natural gas NGK22, +5.65% rose 32 cents, or 5.6%, to settle at $6.032 per million British thermal units, the highest front-month contract settlement since January, FactSet data show. May West Texas Intermediate crude clh22 fell $1.32, or 1.3%, to settle at $101.96 a barrel, after settling 4% higher on Monday.

Source: Marketwatch

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