U.S. Natural Gas Dip Below $2 Is Brief as Low Prices Buoy Demand
- Gas inventories forecast to reach record at end of October
- U.S. has biggest year-over-year supply glut for the season
U.S. Natural Gas Prices Falling: Here's Why
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U.S. natural gas rebounded after dipping below $2 per million British thermal units for the first time since April 2012 on speculation that low prices and the approach of winter will ease a supply glut.
Unusually warm weather for this time of year is threatening to crimp gas demand just as caverns and reservoirs are filling up with supplies. The front-month contract fell as much as 5.5 percent Tuesday, extending Monday’s 9.8 percent drop, after money managers last week raised bearish gas bets to an all-time high.