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NEW YORK, Sept. 28 (UPI) -- Natural gas prices on the New York Mercantile Exchange hit a record high Wednesday.
The October contract for the commodity rose 9.9 percent or $1.251 to $13.907 per million Btu. The price for natural gas in November was higher, settling at $14.10.
Other energy prices followed natural gas up. High-quality crude oil for November delivery climbed to $66.35, up $1.28, or 2 percent. Gasoline closed up 17.29 cents at $2.3393, and heating oil closed up 7.25 cents at $2.1411.
The price increases appeared to ignore a U.S. Energy Department report Wednesday indicating supplies of oil and oil products -- not counting natural gas -- well within their historical ranges for this time of year, MarketWatch said.
The United States is "awash in crude oil and there most likely won't be a pinch in the supply this year, for crude or the other products," said Thomas Hartmann, an analyst at Altavest Worldwide Trading. But right now, he said "it's all about fear and uncertainty."
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