US Gas Sets New Four-Year Low

摘要

US April gas futures slumped into the weekend at $1.684/MMBtu, the lowest close since the March 2016 price collapse. The 6.8c fall brought the week’s losses to 23.3c or 12.2%. However, while a general market panic over the spreading coronavirus may have exacerbated the decline, analysts don’t suspect it was a huge factor in the March contract’s rolling off the board on Feb. 26 at a remarkably low $1.821/MMBtu. Foremost, gas storage inventories are more glutted than what was expected weeks ago, as a much warmer than normal winter continues to keep heating loads anemic and late-winter cold snaps won’t be sustained enough to make much difference.