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U.S. Oil, Natural Gas Prices Racing In Opposite Directions

April 19, 2019

Via: Forbes

With prompt month settling below $2.50 per MMBtu yesterday, U.S. natural gas prices have tanked to their lowest levels since June 2016.

For April thus far, natural gas prices have declined 8-10%, sliced in half since their mid-November highs

Importantly, prices have plunged through very strong technical support at ~$2.53.

This is all made more surprising since we still have a very high gas storage deficit of 25% to the five-year average.

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