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- US natural gas prices slumped 8% Thursday to hit the lowest level in nearly two years.
- At $2.80 per million British thermal units, the latest price represents a plunge of more than 70% from highs reached in August.
- US exports to Europe have also been limited by a longer-than-expected shutdown at an LNG facility.
US natural gas prices sank 8% Thursday to the lowest in nearly two years, as mild winter weather continued to weaken demand for the heating fuel.
Gas traded just below $2.81 per million British thermal units, the lowest level since April of 2021. Prices broke a key $3 threshold a day earlier.
The latest natural gas price represents a plunge of more than 70% from the high of $10.03 reached in August.