EIA reports natural gas prices hit 3-year low
Friday, January 10, 2020
The U.S.Energy Information Administration recently reported natural gas prices in 2019 reached their lowest levels in three years, according to Trib Live.
The Henry Hub natural gas spot price averaged $2.57 per million British thermal units in 2019, which was about 60 cents lower than in 2018 and the lowest annual average price since 2016, according to EIA. Then, spot prices dropped to $1.75 per million Btu — the lowest since April 15, 2016 — on Dec. 27.
Analysts believe low prices have been a factor in the decision by some natural gas producers to dial back their drilling operations or leave the Appalachian Basin altogether.
Learn more: Trib Live > Report: 2019 natural gas prices lowest in 3 years
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