Dec 18 (LNGJ) - US natural gas spot prices hit a 16-year low, with the Henry Hub settling at $1.65 per million British thermal units. Futures prices also settled at their lowest level since March 1999, with the near-month New York Mercantile Exchange contract settling at $1.79 per MMBtu this week. “Warmer-than-normal temperatures since the beginning of November, the start of the US heating season, have contributed to lower inventory withdrawals,” the US Energy Information Administration said. “In addition to strong production growth and robust inventories, forecasts for a continued warmer winter also have contributed to the low futures prices,” it added.
