Natural Gas Prices Plummet Amid War and Weather Forecasts

US natural gas futures declined for the second day in a row as warmer weather forecasts hinted at lower demand for heating and power-plant fuel. The price drop is also attributed to declining European natural gas and oil prices, which followed US President Donald Trump's prediction of a swift end to the Middle East war.

According to Eli Rubin, senior energy analyst at EBW Analytics Group, 'the probable decoupling of oil and natural gas with the end of the war is a likely bearish catalyst for natural gas into spring.'

Futures for April delivery fell by $0.085 or 2.7% to $3.035 per million British thermal units (mmbtu) on Nymex, while benchmark European gas futures dropped by 9.1%. Benchmark US oil futures declined by 6.5%