Natural gas prices rise; oil declines slightly

By The Associated Press Updated at 2012-04-27 15:59:12 +0000


Natural gas is rising as cooler weather and production cuts are raising expectations that demand may improve.

Natural gas rose 2.1 cents to $2.147 per 1,000 cubic feet Friday in early trading. Last week the price dropped to the lowest level in more than a decade.

The price plunged this year as a natural gas production boom created a glut of supply and demand dropped due to a mild winter.

The weather has turned cooler in some regions, which could create more demand for the fuel.

Oil is down 36 cents to $104.19 per barrel in New York after the U.S. reported slower economic growth. Brent crude has dropped 64 cents to $119.28 in London.

At the pump, gasoline prices fell less than half a cent to $3.826 per gallon.