Gas Market Update
March natural gas NGH15, +3.71% jumped 11.7 cents, or 4.1%, to settle at $2.951 per million British thermal units, with the contract 5.2% higher on the week. This week, the U.S. has seen freezing temperatures, which look set to continue.
Oil suffers a loss as natural gas jumps 5.2% on week
Crude-oil futures on Friday suffered from their first weekly loss in a month as U.S. supplies continue to mount, but natural-gas prices rallied as much of the U.S. experienced below-normal temperatures.
Oil for March delivery CLH5, -2.44% gave up 82 cents, or 1.6%, to settle at $50.34 barrel on the New York Mercantile Exchange. That was the lowest settlement price since Feb. 11.
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