Natural gas spot and futures market prices have turned toward the downside the past two weeks, driven in part by mild weather that has led to soft demand, a fact reflected in demand volumes in the low 50 Bcf per day range, currently only slightly above last year’s volumes. Meanwhile, production remains elevated and consistently strong, so near-record volumes of gas directed into storage are now above the five-year average and close to the all time record set last year.

Read the rest of the story →