Natural Gas Slumps To Six Week Low, Germany Set To Cut Gas Consumption

21 Jun 2022 , 01:13 PM

Natural Gas futures slumped today as markets eyed reports stating major consuming nations trying to reduce consumption following the Russia-Ukraine war. Germany must reduce natural gas consumption and increase the burning of coal in order to help fill gas storage facilities for next winter, German Economy Minister Robert Habeck announced Sunday as the country moves away from reduced Russian gas supplies, according to media reports. The US Natural Gas futures have slumped to $6.68 per mmbtu right now, extending a slide from record highs. The counter is currently quoting at lowest in nearly six weeks. Powered by Commodity Insights