US NatGas Plunges Amid Warmer Weather Outlook
US natural gas futures dropped 14.7% to $3.70 per MMBtu due to forecasts of warmer weather, which may reduce heating demand. While some southern regions remain cold, the National Oceanic and Atmospheric Administration predicts temperatures will stay above seasonal norms. This change is expected to lower natural gas demand, crucial for heating and electricity. The market has been volatile, with February futures reaching a three-year high before expiration, and March contracts fluctuating amid mixed weather forecasts and strong storage figures. LNG export flows increased with the anticipated restart of a liquefaction train at Freeport LNG in Texas.
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