Nymex Natural Gas Rises to One-Month High as Oil Prices Surge

[jpak]

http://www.bloomberg.com/apps/news?pid=20601072&sid=abg_iOT_sKXw&refer=energy

March 28 (Bloomberg) -- Natural gas rose to the highest price in a month in New York as oil prices soared because of concern a dispute with Iran might escalate.

Gas climbed to $7.728 per million British thermal units earlier today, the highest price since Feb. 27. Oil surged on speculation that the U.K. would try to rescue 15 British service members captured by Iran, the second biggest oil producer in OPEC. Oil reached $68.09 a barrel late yesterday, the highest price in more than six months.

<snip>

Gas for April delivery rose 5.5 cents, or 0.7 percent, to settle at $7.558 per million Btu at 2:48 p.m. on the New York Mercantile Exchange, the highest close since Feb. 23. April futures expired after the floor session today. The May gas contract climbed 5.7 cents to $7.672.

Crude oil for May delivery rose $1.15 to $64.08 a barrel in New York.

<more>

[HockeyMom]

1. Not only $3+ gallon gas, but $500 a month natural gas heat?

Spring better hurry up and get here.