Natural gas prices fall 12 percent in November

U.S. natural gas inventories higher than at any point in the nation’s history

NEW YORK – Natural gas prices have dropped by more than 12 percent in the past month as the country continues to sip at its energy reserves and a balmy November allowed homeowners to leave the heat off.

…The recession has kept natural gas demand low most of the year. With manufacturers shuttering factories and closing offices, the country is using less electricity and power plants are burning less natural gas.

Analyst Stephen Schork noted that with industrial production still weak, home heating would be the primary source of natural gas demand for the rest of the year.

“What does that say about the current recovery, or lack thereof?” Schork said in a research note.

AP