Natural gas price drops toward $3 as mild forecasts bite; traders eye next EIA storage report
U.S. natural gas futures dropped nearly 6% Tuesday, with the March Henry Hub contract settling at $3.056 per mmBtu, as forecasts turned milder and supply rebounded. Morgan Stanley noted a 29% price pullback in February, citing weaker heating demand and higher Lower 48 output. Traders now await Thursday’s U.S. storage data for signs of tightening LNG demand.