(MENAFN- Saudi Press Agency) The price of natural gas has fallen 30 percent in a month, and U.S. residents could enjoy lower electricity prices and heating bills in the coming months.
A warm December and plentiful supplies are responsible for the price plunge, which comes at a time of year when natural-gas prices typically rise.
Natural gas is used by half of U.S. households for heating and to generate 26 percent of the country€„¢s electricity.
Natural-gas prices rose during an unusually cold November, but December warmed, and temperatures for the rest of the winter are expected to be near normal, which could keep prices low through the spring, analysts expect.
On Tuesday, natural-gas futures rose slightly to $3.15 per 1,000 cubic feet (28.3 cubic meters), down from almost $4.50 in late November.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.