NEW YORK (AP) -- The price of natural gas has dropped to $2 for the first time in more than a decade.

Gas briefly touched $2 before heading back up to $2.009 per 1,000 cubic feet Wednesday afternoon.
The last time natural gas touched $2 was Jan. 28, 2002, as it dropped to $1.91.

Natural gas prices have been tumbling all year. A mild winter and a production boom have left the U.S. with more natural gas than Americans can consume. The glut has pushed prices down by 59 percent since a peak last summer at $4.85.

The excess gas has benefited homeowners and businesses that use it to heat homes and power factories.
And with so much in supply, natural gas should remain cheap during the summer, barring an unexpected heat wave, analysts say.


Natural gas prices dip to $2 first time in decade - Yahoo! Finance

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