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Natural gas prices skyrocketed in 2022 as tensions between Europe and Russia over the invasion of Ukraine threatened to cut off supplies to one of the largest gas-consuming parts of the world. Now, however, a warm winter has brought less gas demand than anticipated, with the commodity dropping 51 percent in just under a month.
US natural gas prices fell from just under $7.00 per million British thermal units in mid-December, to $3.22 today. The decline is even worse from a mid-August peak, with prices down 68 percent from $10.03 per million British thermal units. Benchmark European natural gas futures also fell 50 percent over the past month.
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