US Natgas Prices Hit 11-Week High
AI Summary
US natural gas prices rose above $3.0/MMBtu, reaching their highest point since early July due to forecasts of hot autumn weather that are expected to increase gas-fired power demand. The above-average temperatures across the South-Central US are likely to extend air conditioning usage and reduce storage surpluses.
US natural gas prices climbed above $3.0/MMBtu, reaching their highest level since July 8, as forecasts for hot US autumn weather pointed to stronger demand for gas-fired power generation. Above-average temperatures are expected across the South-Central US through October 6, potentially extending air-conditioning use and lifting gas consumption. The storage surplus is also shrinking as ...
Markets Commodities Energy natural gas US energy prices weather forecast power generation commodities