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Offline Nuclear Power Plants Improve Natural Gas Prices
Sep. 25, 2012 12:27PM PST
Oil and Gas InvestingReuters reported that because a large number of nuclear power plants are offline for maintenance, US spot natural gas prices increased for the second day in a row.
Reuters reported that because a large number of nuclear power plants are offline for maintenance, US spot natural gas prices increased for the second day in a row.
As quoted in the market news:
Gas for Wednesday delivery at benchmark supply point Henry Hub in Louisiana rose 2 cents on average to $2.84 per million British thermal units, after gaining 6 cents on Monday for gas delivered on Tuesday.
The daily Hub average remained above the September monthly index of $2.63, but below the year-ago price of $3.30. Hub cash prices peaked last year on June 9 at $4.92.
On NYMEX, the front-month contract traded late up about 4 cents at $2.879. The October contract expires on Wednesday.