Natural gas prices have fallen sharply after spiking to multi-year highs in late 2018, and prices could fall further still. The U.S. entered the peak winter demand season with gas inventories at a 15-year low, which left the natural gas markets vulnerable to unexpected bouts of cold weather. In November, Henry Hub natural gas prices jumped as high as $4.80/MMBtu, the highest price in roughly four years. The combination of low inventories, structural increases in gas demand from new power plants and exports, and the seasonal spike in demand from cold weather, led to a sharp and sudden spike. But sky-high prices did not last long. By mid-December, natural gas prices were back below $4/MMBtu , and by early January, prices had fallen back to $3/MMBtu. Inventories are still significantly below the five-year average. As of the last week in December, gas storage levels stood at 2,705 billion cubic […]