Low Demand and Oversupply Push Natural Gas Prices to 25-Year Low
• Henry Hub spot gas prices hit $1.24/MMBtu - lowest since early 1990s due to oversupplied market • Mild weather forecast along Gulf Coast weakening demand • South Central storage injection season likely underway as withdrawals end • Despite low cash prices, NYMEX futures down just 5-6 cents with April contract at $1.66 • Forward Henry Hub balance-of-month contract plunged to $1.54, just above cash market price