From Reuters:
* Front-month futures slip 3.4 percent this week
* High storage, production still weigh on prices
* Above normal nuclear plant outages lend support
(Releads, adds analyst quote, Baker Hughes rig data, updates
prices)
By Joe Silha
NEW YORK, Jan 25 (Reuters) - Most U.S. natural gas futures
ended slightly higher on Friday, but the front-month contract
lost ground for a fourth day on forecasts for milder weather
early next week that should slow heating demand.
Traders said the nearby contract was due for a technical
pullback after climbing 7.2 percent last week ahead of this
week's cold. That was the biggest weekly gain in two months.
While still-high inventories and record production have also
weighed on prices - the front contract lost 3.4 percent this
week - most traders see only limited downside in the near term,
with nuclear plant outages still running above normal and
another shot of arctic air expected later next week.
Front-month February gas futures on the New York
Mercantile Exchange, which expire on Tuesday, ended down 0.2
cent at $3.444 per million British thermal units after trading
in a fairly narrow range between $3.411 and $3.48. Most other
months ended 1-2 cents higher....MUCH MORE
