Next Stop for U.S. Natural Gas Is 20-Year Low Amid Warm Weather
- Above-normal temperatures seen for U.S. East through Dec. 30
- Gas production heading for fifth straight annual record
Will Oil Recover in 2016?
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Natural gas futures are trading at the lowest level since 1999. Next stop: the cheapest in two decades.
Gas closed at $1.79 per million British thermal units Wednesday and is poised to head below $1.60, the lowest price since 1995, as an unseasonably warm December curtails demand for the heating fuel, according to Gelber & Associates and ICAP Energy LLC. The biggest stockpile surplus since 2012 is on course to expand as production heads for a fifth straight annual record amid unprecedented output from the Marcellus and Utica shale formations.