Natural gas industry feeling pinch of slumping prices
BNN Bloomberg
North American natural gas prices continued their downward slide this week, in spite of frigid winter conditions that gripped much of the continent.
The U.S. natural gas benchmark Henry Hub has fallen six per cent over the last week, trading Friday at around US$2.53 per million British thermal units, or mmBTU.
It's a continuation of last year's downward trend. U.S. natural gas prices averaged $2.57 per mmBTU in 2023, about 62 per cent below the 2022 average annual price.
Weather is typically a major factor in the price of natural gas, as demand is driven by the need to heat homes and businesses.
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