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Natural Gas Dips to Record Low in 28 Months

February 3, 2015 at 17:34 by Vladimir Vyun

Futures for natural gas dipped today, falling for the fifth consecutive session. Prices touched the lowest level in 28 months. As it often happens, the reason for declining prices was a weather forecast.

Forecasters predicted frigid weather in the United States for the next three days. Yet they also promised that temperature will rise closer to the norm in the middle of February. This means lower demand for gas used in heating.

March futures for delivery of natural gas dropped 0.49 percent to $2.672 per million British thermal units as of 17:32 GMT on NYMEX today after dropping to the daily low of $2.651.

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