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Natural-gas futures end at highest since 2008; oil settles lower

36952 natural gas futures end at highest since 2008 oil settles lower

Natural-gas prices climbed by more than 5% on Thursday to settle at their highest since December 2008, buoyed by tight supplies, while oil prices edged down to finish with a modest loss. The Energy Information Administration reported Thursday that U.S. natural-gas supplies fell 33 billion cubic feet for the week ended April 1. That compares with a five-year average increase of 8 billion for the week, according to S&P Global Commodity Insights. May natural gas NGK22, +5.26% rose 33 cents, or 5.5%, to settle at $6.359 per million British thermal units, the highest front-month contract settlement since December 2008, FactSet data show. May West Texas Intermediate crude clh22 fell 20 cents, or 0.2%, to settle at $96.03.96 a barrel, after settling 5.6% lower on Wednesday.

Source: Marketwatch

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