January natural gas NGF16, -1.74% fell 2.5 cents, or 1.2%, to $1.99 per million British thermal units, settling under $2 for the first time since April 2012. Prices lost 9% for the week.
Heating-oil futures traded on Nymex also finished sharply lower Friday. January heating oil HOF6, -6.69% dropped 8 cents, or 6.5%, to $1.146 a gallon. Phil Flynn, senior market analyst at Price Futures Group, said heating oil got “slammed because winter looks canceled” with forecasting calling for warmer weather. Heating oil lost nearly 15% for the week.
January gasoline RBF6, -0.66% was little changed at $1.282 a gallon, up 0.9% for the week.
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