Natural Gas Hits $6 For First Time in Four Years
By Nicole Friedman
Natural-gas prices climbed above $6 for the first time in four years Wednesday, as traders anticipated higher demand for the heating fuel following forecasts of continued cold weather.
Natural gas for March delivery soared as high as $6.007 a million British thermal units on the New York Mercantile Exchange, a level last seen on Jan. 7, 2010. Prices were recently up 7.3% at $5.956/mmBtu.
The frigid winter has increased natural-gas demand as people in the Midwest and Northeast have kept their furnaces running.
