Natural-gas futures down 11% at close; oil climbs

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- Natural-gas futures dropped 11% on Monday, as prices pulled back from last week s jump of roughly 18%. There were a number of traders covering shorts last week as [prices] moved up based on weather and storage expectations, said Beth Sewell, managing partner at Quantum Power & Gas Services. Trading stops kicked in, which furthered the rally and now reality is setting in, she said. March natural gas lost 69 cents, or 11%, to settle at $5.445 per million British thermal units, the lowest close since Feb. 14. Oil futures, however, climbed as violence in the Middle East raised worries about global supplies. April crude rose 62 cents, or 0.6%, to end $102.82 a barrel. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.