EIA: Mild Weather And Record US Natural Gas Production Keep Prices Low Despite Low Storage Levels And High Exports
EIA stated that on June 6th the prompt (Jul19) NYMEX natural gas futures contract closed at a three-year low of $2.324/MMBtu. Record US production and seasonally mild temps have kept prices low even though total US storage still sits at a deficit to the five-year average (-230 Bcf as of June 7th) and exports are…