Natural gas prices hit their lowest level in 21 months as the East Coast sees less snow than Texas this winter

• Natural gas prices tumbled lower on Monday and hit a new 21-month low. 
• Freezing temperatures are set to hit the south, but the East Coast has had a mild winter. 
• New York City has been spared substantial snowfall so far this winter season. 

Natural gas prices fell on Monday, extending a string of recent losses to set a fresh 21-month low amid mild winter temperatures in parts of the US. 

Prices were hovering near $2.73 per million British thermal units, below a key threshold of $3 broken on January 25. The latest decline adds further downward pressure to prices that are now more than 70% below all-time highs of $10.03 hit in August 2022.