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U.S. natural gas plummets more than 10%, following worst week since 2014
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cnbc.comIn this article
U.S. natural gas futures plunged more than 10% on Monday, falling to the lowest level since August on forecasts for warmer-than-expected winter temperatures. The leg lower builds on last week's more than 24% loss, which was natural gas' worst week since February 2014.
The contract for January delivery traded at $3.68 per million British thermal units (MMBtu) around 10:15 a.m. on Wall Street, for a decline of 10.9%.
Again Capital partner John Kilduff said that it all comes down to bearish weather forecasts.
«We keep having bouts of relative warmth, on a weekly basis. That is keeping any meaningful heating demand at bay,» he said. «The storage situation eased, as well, over the past several weeks, with natural gas inventories
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