Natural gas in the U.S. fell Wednesday to the lowest level since 1999

Moscow. December 16. Intraday price of natural gas in the U.S. fell to its lowest level in 16 years during electronic trading on the new York Mercantile exchange on Wednesday, Bloomberg reported.

The January contract fell 2.5% to $1,797 per 1 million British thermal units (BTU).

Gas is steadily moving down to at least 20 years, to $1.6 per 1 million BTU, analysts say.

“The difference between $1.80 and $1.60 is small from a historical point of view – both numbers mean incredibly cheap gas. The weather forecast for the next 16 days we didn’t see anything that could support prices,” said analyst at Gelber & Associates in Houston Aaron Calder.

Forecast MDA Weather Services, temperatures in the States of the U.S. East coast will be higher than climatic norm up to 29 December inclusive. While in Manhattan on December 23 is expected to 61 degrees Fahrenheit (16 degrees Celsius) is 20 degrees Fahrenheit above the average for this time of the year, said AccuWeather.

Analed ICAP Energy drew Wozniak does not exclude falling of the prices for gas to $1.5 per 1 million BTU in the near future.

Since the beginning of 2015 natural gas in the U.S. fell by 36%, which is the biggest drop since 2006.