News
US Natural Gas Falls Below $3 for First Time Since May 2021
US natural gas futures extended declines below $3 amid mild winter weather that’s helped spark the worst selloff among the country’s commodities. Gas for February delivery traded as low as $2.919 per million British thermal units early on Thursday on the New York Mercantile Exchange.
Related Knowledge Center: Energy security and pricing
State of Play
The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.