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US Natural Gas Falls Below $3 For First Time Since May 2021
US natural gas futures fell below $3 for the first time in 19 months amid an abnormally mild winter that’s helped spark the worst selloff among the country’s commodities. Doomsday fears that suppliers wouldn’t be able to meet wintertime demand have been erased by a confluence of factors, leading gas prices to plunge after hitting a 14-year high of $10.03 in August. Key reasons for the fall: The US and Europe managed to refill their buffer inventories ahead of winter, and relatively balmy seasonal temperatures in the Northern Hemisphere have so far dampened demand for heating. And a longer-than-expected shutdown ... (full story)
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- Posted: Jan 25, 2023 7:40pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 223
