Natural Gas Prices Plummet Amidst LNG Facility Delay and Above-Average U.S. Temperatures
TL;DR Summary
Natural gas futures plummeted after news of a delayed completion of a major LNG export facility intensified concerns about a storage glut. The decline was driven by robust production and weak weather-related demand. The front-month natural gas futures contract settled down 14.1 cents at $2.569/MMBtu, while February futures dropped 15.0 cents to $2.517. The spot gas national average also sank 52.5 cents to $3.030.
Topics:business#energy#lng-facility#natural-gas-futures#production#storage-glut-fears#weather-related-demand
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