US natural gas contracts fall 7% with the decline in oil prices and the increase in production | latest news

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US natural gas contracts fell more than seven percent today, Tuesday, in line with a similar decline in crude oil prices, amid an increase in gas production, expectations of warmer weather and a decline in demand in late September.
The drop in gas prices came despite a daily increase in liquefied natural gas exports following hurricane closures in late August and record sales to Mexico.

Gas contracts fell to the nearest maturity of 18.8 cents, or 7.3 percent, to settle at $ 2,400 per million British thermal units, the lowest level in two weeks. This is the largest one-day drop in gas contract prices since early May, leaving contracts for next month’s delivery down 13 percent from an eight-month high of $ 2.743 reached on August 28.

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