U.S. Gas Prices Ease On Record Output

U.S. natural gas futures eased to a two-week low on Monday amid record output, negative spot prices at the Waha Hub and forecasts for mild weather. Natural gas at the Waha hub--a regional pricing hub for gas in the Permian Basin in West Texas--sold for near-zero or sub-zero prices for much of 2024, a trend that has continued in the current year. Indeed, prices at the hub spent 164 days in negative territory and hit an all-time low -$7/mmbtu at the end of August, truly historical lows. The Permian Shale boom led to a surge in associated gas production,…