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Energy futures advance 6.40 p.m. ET (2340 GMT) May 1, 2000
NEW YORK Natural gas prices flowed sharply higher Monday on the New York Mercantile Exchange amid shrinking production and dwindling storage levels.
U.S. production declined nearly 3 percent in the first quarter of 2000, according to an industry survey, while storage is down 25 percent from a year ago.
With the approach of summer cooling season, those data have investors nervous.
June natural gas rose 7.5 cents to $3.216 per 1,000 cubic feet after reaching a six-month high of $3.235 -- the highest for a front-month contract since Oct. 28, 1999.
Other energy futures also were higher. June unleaded gasoline rose 1.82 cents to 83.27 a gallon; crude oil for June delivery rose 13 cents to $25.87 a barrel; June heating oil rose 2.5 cents to 67.44 a gallon.
London's International Petroleum Exchange was closed Monday in observance of May Day.
Natural gas June, 00
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