Natural Gas Prices Plummet Amid Mild Weather Forecasts
Natural gas prices took a hit on Monday as market participants anticipated mild fall weather, leading to reduced air conditioner usage.
New York Mercantile Exchange natural gas futures fell 7.1 cents to $2.841/MMBtu by midday on Monday.
The Henry Hub spot price averaged $2.921 in early action, a result of consumers idling their air conditioners due to favorable weather forecasts.