Natural gas rises in March

AP News
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Posted: Mar 24, 2011 4:07 PM
Natural gas rises in March

Natural gas prices are well below what they were in 2007 and 2008, though they have been rising recently.

Analysts say gas contracts have been extremely undervalued, and prices started to rebound in March as U.S. supplies fell. They increased 13 percent from March 10 to March 23. Prices fell Thursday after a government report confirmed what experts expected: natural gas supplies had fallen below last year's level. They remained above the five-year average.

Here are settlement prices for natural gas since March 10:

March 10: $3.83

March 11: $3.89

March 14: $3.91

March 15: $3.94

March 16: $3.94

March 17: $4.16

March 18: $4.17

March 21: $4.16

March 22: $4.25

March 23: $4.34

March 24: $4.24

(Price per 1,000 cubic feet for April delivery on the New York Mercantile Exchange. Source: FactSet)