(RTTNews) - The price of natural gas continued to tumble on Friday and reached a two-month low. Prices have been trending lower for about two weeks.

Natural gas for December delivery dropped to $4.602 per million British thermal units, down 18 cents on the session. Prices hit as low as $4.555 earlier in the session.

Employment data led to further concerns over energy demand. The U.S. Labor Department reported the unemployment rate jumped to 10.2 percent in October from an unrevised 9.8 percent in September. The number had been expected to see a more modest increase to 9.9 percent.

Later in the morning, a Commerce Department report showed that wholesale inventories fell 0.9 percent in September following an unrevised 1.3 percent decrease in August. Economists had been expecting inventories to decrease by about 1.0 percent.

Energy Information Administration data released Thursday showed natural gas inventories rose 29 billion cubic feet in the week ended October 30. This was in-line with analyst expectations.

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Posted in Categories: Economy, Releases, UK, USA.

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