Natgas closes above $3

In this July 27, 2011 photo, the sun shines over a Range Resources well site in Washington, Pa. The company is one of many drilling into the Marcellus Shale layer deep underground and

Natural Gas: Futures hit six-month high point

Keith Srakocic

By News wires

 20 July 2012 21:43 GMT

US natural gas futures ended higher on Friday for a third straight session, with bullish weekly inventory data and still-warm forecasts for the Northeast and Midwest driving the front-month contract to a fresh 6-1/2-month high.

Front-month gas futures on the New York Mercantile Exchange ended up 8.2 cents, or 2.7% at $3.081 per million British thermal units after climbing late to $3.084, its highest since early January, Reuters reported.

"We've got forecasts for warmer than normal temperatures for the next two weeks, and we continue to see a constructive trend in storage (declining surplus)," Citi Futures Perspective analyst Tim Evans told the news wire.

The nearby futures contract has gained 10% in the last three sessions, its biggest three-day run up in a month.

Relative strength up front from…

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