U.S. natural gas futures slid about 2% to a two-week low on Monday on record output, negative spot prices at the Waha Hub in West Texas and forecasts for mild weather through early April, which should keep the amount of gas utilities pull from storage to heat homes and businesses lower than usual for this time of year.
The U.S. Energy Information Administration (EIA) increased its Henry Hub spot price forecast for 2025 and 2026 in its latest short term energy outlook (STEO), which was released recently.
Curious Minds Corner
What is the primary component of natural gas?
The primary component of natural gas is methane (CH4).