Natural gas, which typically rises during the colder winter months, has dropped to multiyear lows.
Last week, natural gas prices fell below $2 per million British thermal units – their lowest level in nearly four years. This is due to both an oversupply of the commodity as well as milder winter weather, which has caught many analysts and traders off-guard.
According to the U.S. Energy Information Administration, this may be just the beginning: They predict dry natural gas production in the U.S. will rise by 2.9 percent in 2020.
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