Economics
Natural Gas Needs Bone-Chilling Winter to Avoid 1990s-Era Prices
- Futures tumble below $2 as U.S. inventories approach record
- Forecasters predict warmer-than-normal winter for U.S. East
U.S. Natural Gas Prices Falling: Here's Why
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The average price for natural gas in the U.S. this year is now the lowest since Bill Clinton was president. And a forecast for a warm winter ahead means there’s no end in sight to the slump.
Futures tumbled below $2 per million British thermal units Tuesday amid mild weather and surging output from shale basins. Supplies on the Gulf Coast, the biggest onshore producing region, are already breaking records, and U.S. inventories are poised to reach unprecedented levels before winter temperatures boost demand.