U.S. Natural Gas Dips Below $2 Without a Cold Snap in Sight
- Natural gas heads for second consecutive weekly decline
- U.S. gas futures trade at lowest seasonal price since 1998
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Winter is about to start in the Northern Hemisphere, and you’d never know it from looking at U.S. natural gas prices. On Thursday they dipped below $2 per million British thermal units for the second time in more than three years.
The fuel is trading at the lowest level since 1998 for this time of year as forecasts show no cold spell in sight for the eastern U.S., suppressing demand. Hedge funds have been betting against higher gas prices for the last 11 months.