Natural-gas prices plunge to a more than a 14-year low

Natural-gas prices have plunged to their lowest level in more than 14 years just as the winter heating season has begun.

Natural gas for January delivery NGF16, -1.32%  fell 9.6 cents, or 4.8%, to settle at $1.894 per million British thermal units Monday after trading as low as $1.862. It suffered a weekly loss of nearly 11% last week.

Based on the most active contracts, prices saw their lowest settlement since Sept. 26, 2001.

The price drop comes amid a glut in supply. Domestic natural-gas supplies in storage topped out just above 4 trillion cubic feet the week of Nov. 20, the largest storage level on record, based on U.S. government data.

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