Natural-gas futures fell on Monday to settle at their lowest level in almost three years, pressured by expectations that U.S. production may soon start to rise just as demand for the energy source slows in the so-called off season.Oil futures, meanwhile, finished lower — just below $57 a barrel with U.S. supplies remaining at a record, though turmoil in Yemen continue to raise concerns about crude supplies in the Middle East.
May natural gas NGK15, -0.76% fell 4.1 cents, or 1.6%, to settle at $2.49 per million British thermal units, ahead of the May contract expiration on Tuesday. Prices, based on the front-active contracts, haven’t settled at levels this low since June 15, 2012.
June natural gas NGM15, -0.72% which is now the most-active contract, ended at $2.514, down 5.4 cents, or 2.1%.
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