Natural gas prices have suffered due to disrupted demand caused by the global economic shutdown brought on by COVID-19, according to Investment U.

U.S. natural gas consumption is expected to decrease 3.9% year-over-year to 81.9 billion cubic feet per day in 2020, according to the Energy Information Administration. One of the reasons for this drop is a 7.1% decrease in the industrial sector caused by lower manufacturing activity amid stay-at-home orders.

If current predictions hold true, 202 will be the first year in over a decade that demand for natural gas has declined. Typically, producers have seen natural gas demand grow more than 3% annually.

In the current market, prices are also being impacted by increasing volumes of stored natural gas. At the end of April, 2.3 trillion cubic feet of natural gas was being stored, which was 20% higher than the five-year average. Storage is projected to reach 4.2 trillion cubic feet by the end of October, which would be a record.

Learn more: Investment U > Has COVID-19 been good or bad for natural gas?