Natural gas prices decline 2 cents to $1.77/mmBtu, dragged lower by a fall in oil prices and as investors shift their bets into next month’s contract,
since the June delivery contract expires this afternoon. Gas prices have been relatively range-bound in May,
down 8% from the beginning of the month amid continued uncertainty over just how much of an impact coronavirus is having in terms of both supply and demand.
The drop in natural gas demand due to lockdowns hasn’t been extreme compared to crude oil,
but gas production doesn’t appear to be falling significantly, either.
Analysts say mild spring weather will weigh on prices in the absence of other market-moving news.