Investing.com - Natural gas futures continued a multi-session decline in U.S. afternoon trading on Tuesday as forecasts continued to predict warm weather that has settled in over much of the United States won't be abating any time soon.
On the New York Mercantile Exchange, natural gas futures for delivery in January traded at USD3.409 per million British thermal units, down 1.49%.
The Commodity Weather Group reported earlier Tuesday that temperatures were likely to remain above normal for most of the eastern half of the U.S. in the coming six to 10 days.
The forecast pushed natural gas prices down to near six-month lows earlier in the session.
Elsewhere, a National Oceanic and Atmospheric Administration report predicted that 2012 could be the warmest year since 1998, which further depressed prices.
November through March marks the peak demand for U.S. gas consumption.
Natural gas futures hit a 14-month high of USD4.001 per million British thermal units on Nov. 26 on hopes cold winter would return and boost demand for heating.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in January were up 0.30% and trading at USD85.82 a barrel, while heating oil for January delivery were up 1.09% and trading at USD2.9279 per gallon.
On the New York Mercantile Exchange, natural gas futures for delivery in January traded at USD3.409 per million British thermal units, down 1.49%.
The Commodity Weather Group reported earlier Tuesday that temperatures were likely to remain above normal for most of the eastern half of the U.S. in the coming six to 10 days.
The forecast pushed natural gas prices down to near six-month lows earlier in the session.
Elsewhere, a National Oceanic and Atmospheric Administration report predicted that 2012 could be the warmest year since 1998, which further depressed prices.
November through March marks the peak demand for U.S. gas consumption.
Natural gas futures hit a 14-month high of USD4.001 per million British thermal units on Nov. 26 on hopes cold winter would return and boost demand for heating.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in January were up 0.30% and trading at USD85.82 a barrel, while heating oil for January delivery were up 1.09% and trading at USD2.9279 per gallon.