• The prompt month dropped more than 20 cents on the day
  • The latest EIA storage report showed a robust injection
  • ‘Nobody should be surprised the natural gas bubble has burst’

Natural Gas Futures Plummet as Imbalance Worries Intensify

Natural gas futures plunged Thursday amid intensifying imbalance concerns and escalating worries about looming storage surpluses as summer cooling needs dwindle. 

The losses occurred as Hurricane Sally’s destruction imposes uncertainty, and the full impacts of other demand drivers this fall also remain unclear.

The October Nymex contract dropped 22.5 cents day/day and settled Thursday at $2.042/MMBtu. It reached an intraday low of $2.003. November fell 8.7 cents to $2.577.

The prompt month has not dipped below $2.000 since early August,...