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.