Hot weather outlook again boosts natural gas

Oil   Oil
By Chris Kahn on July 30, 2012

NEW YORK (AP) — As the temperature keeps rising, so does the price of U.S. natural gas.

Natural gas futures in New York have surged 69 percent since hitting a 10-year low this spring. Power plants are burning more natural gas for electricity as homes and businesses crank up the air conditioning. And natural gas companies are finally cutting back after a production boom that pushed supplies this winter to the highest level on record.

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