Gas prices, energy futures fall - Ottawa Recorder

NEW YORK - Gas prices dropped below a national average of $3 a gallon over the weekend, while energy futures had their own decline on Monday on suggestions that OPEC may increase its output. While natural gas supplies are below their levels at this time last year, they are growing rapidly and could hit records next month, said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Ill. Word that Total SA is resuming exports from its 240,000 barrel-a-day Dalia field facility in Angola also put pressure on oil prices. While Goldman Sachs recently predicted oil prices would go to $95 a barrel this year, a group of Citigroup analysts on Monday said crude prices are unjustified at their current levels. read more

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