Natural Gas Futures Collapse to Lowest Level in Over Three Months

Natural gas futures are trading at $2.69 per million British thermal units on Wednesday, up 0.42% from the prior session after breaking below $2.70 to reach its lowest level in more than three months.

The September contract printed a multi-month low at $2.666 last week, and while the daily chart produced a technical bounce off that level, it was not strong enough to shift momentum on the weekly timeframe.

The rate of decay is what makes this market notable rather than merely weak. Over the past month the front contract has fallen 17.00%, down from $2.957 in mid-July and $3.176 in early July, eroding roughly 49 cents over four weeks with no single catalytic event.

The longer arc is more dramatic. The front contract reached $7.72 in January but fell back below $3 by spring. At $2.69 the market has surrendered 65% from that January print in seven months.