Natural gas futures jump as cold weather rolls in

The Associated Press

Natural gas futures rose sharply Monday as investors anticipated that homeowners would turn up the heat as wintry weather plows across the country.

The price of natural gas rose above $4.20 for the first time since May 28.

Natural gas for January delivery rose 12 cents, or 2.9 percent, to $4.23 per $1,000 cubic feet.

Crude for January delivery slipped 31 cents to $97.34 a barrel in New York, the first decline after six straight gains.

In other energy trading, wholesale gasoline lost 5 cents to $2.67 a gallon and heating oil lost 4 cents to $3.01 a gallon.

February gold edged up $5.20, or 0.4 percent, to $1,234.20 an ounce. Silver for March delivery rose 17.8 cents, or 0.9 percent, to $19.701 an ounce.

High-grade copper for March delivery rose a penny, or 0.3 percent, to $3.258 a pound. January platinum rose $12.20, or 0.9 percent, to $1,368.50 an ounce and palladium for March delivery fell $1.15, or 0.2 percent, to $735 an ounce.

In agricultural commodities, wheat for March delivery fell half a cent to $6.505 a bushel, January soybeans rose 18.25 cents to $13.4375 a bushel and March corn rose 3.75 cents to $4.38 a bushel.