(Bloomberg) -- Natural gas futures in New York fell
as ample inventories of the power-plant fuel may trap prices in a
narrow range into August, according to a technical analysis.
Gas prices will settle into a range of $6.23 to $6.80 per
million British thermal units. Current prices appear to ``emulate
a zone of congestion from mid January,'' based on an analysis of
moving averages for the commodity, said Michael Fitzpatrick, vice
president for energy risk management at Man Financial Inc. in New
York.
Read more at Bloomberg Energy News
as ample inventories of the power-plant fuel may trap prices in a
narrow range into August, according to a technical analysis.
Gas prices will settle into a range of $6.23 to $6.80 per
million British thermal units. Current prices appear to ``emulate
a zone of congestion from mid January,'' based on an analysis of
moving averages for the commodity, said Michael Fitzpatrick, vice
president for energy risk management at Man Financial Inc. in New
York.
Read more at Bloomberg Energy News
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