Financial Wire

Natural Gas Steady At An 18-Month Low as Mild Temperatures Cut Into Demand

-- Natural gas was steady at an 18-month low early on Wednesday as mild weather limits demand for the fuel.

Gas for May delivery was last seen unchanged at $2.60 per million British thermal units, the lowest since October, 2024.

Mild spring temperatures continue to cut into demand for the fuel, keeping inventories robust. The Energy Information Administration last week reported gas stocks were 4.8% above the five-year average. "An exceptionally mild end to winter and a warm start to spring (is) pointing to a growing storage surplus in the weeks ahead," Saxo Bank noted.

Long-term forecasts from the National Weather Service expect most states east of the Rocky Mountains to see seasonal or warmer temperatures over its six to 10 day outlook.

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