Natural gas price dives as warm forecasts bite; Expand Energy stock slumps on CEO exit
U.S. natural gas futures dropped over 8% Monday to $3.141/mmBtu, hitting a three-week low as forecasts showed warmer weather likely to cut demand. Expand Energy shares fell 6.4% after CEO Domenic Dell’Osso’s exit and plans to relocate headquarters to Houston. EQT and Antero Resources also declined, while Cheniere Energy gained. Lower 48 gas output rose to 106.9 bcfd in February, with demand projected to fall sharply.