Oversupply causes US natural gas prices to fall. The price of American natural gas fell on Wednesday to its lowest level since July 2020.
The futures contract for delivery in March fell to $1.86 per million BTU. Gas prices in the United States are depressed by abundant supply, large stocks, and the approach of spring. The winter was “incredibly mild and the market is starting to transition ” into spring, says Eli Rubin, an expert at energy consulting group EBW Analytics.