U.S. natural gas prices continued to slide Monday after hitting their lowest point since 2021 last week, following other global benchmarks lower during a warm winter.

Henry Hub fell below $3/MMBtu last week for the first time since May 2021. The March contract closed at $2.677 on Monday. Warm weather, a strong rebound in U.S. gas production to record levels over the last year and an easing energy supply crunch overseas have pushed the U.S. benchmark lower.

Rystad Energy said last week that production growth continues to hinder prices, with January output estimated at an average of 100 Bcf/d. 

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