Natural Gas Prices Fall –

Natural gas prices fell 2.6% in Friday trading to cap off a week of price volatility.  Natural Gas prices during the week showed gains of as much as 4.5% and declines as steep as 5%.  June natural gas settled at $2.279 per million British Thermal Units.  Last week, there were 606 natural gas drilling wells which was a drop of 7 from the previous week.  The number of oil rigs increased to 1,355 from 1,328.  According to the Energy Information Administration, natural gas output fell to 72.32 billion cubic feet per day.  Inventories are at 2.576 trillion cubic feet which is almost 50% more than last year at this time.

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James Sutliff

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