Cold weather sends natural gas prices soaring

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Associated Press

Posted on January 29, 2014 at 5:05 PM

Natural gas prices are sharply higher as cold weather blankets large parts of the country. Metals prices are mixed, while agricultural futures are lower.

Natural gas soared 52 cents, or 10 percent, to $5.56 per 1,000 cubic feet Wednesday. That's the highest price since February 2010.

The frigid winter weather in much of the country, including ice storms in the South, gave another boost to natural gas, the most widely used heating source in the U.S.

U.S. crude oil for March delivery slipped 5 cents to close at $97.36 a barrel in New York.

Gold for February delivery rose $11.40 to $1,262.20 an ounce. Silver for March delivery edged up 5 cents to $19.55 an ounce. Other metals fell.

Wheat, corn and soybean futures fell.

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