U.S. Natural Gas Futures Plunge Amid Warmer Weather Forecasts

U.S. natural gas futures experienced a significant drop as forecasts predict milder temperatures in the coming weeks. According to Jin10, the near-month contract fell by 17% to $3.620 per million British thermal units during early Asian trading, erasing the gains made last Friday when prices surged by 11% due to record cold weather. Despite the severe cold affecting the southern United States, prompting energy-saving measures, temperatures are expected to rise by mid-month. The National Oceanic and Atmospheric Administration forecasts that temperatures across most of the U.S. will be above average for this time of year, potentially reducing the demand for natural gas used in heating and power generation.