Natural Gas Prices Soar as Heatwave Sparks Demand Surge
TL;DR
Natural gas futures and spot gas prices rose on Monday, driven by a hot late-August forecast and the potential for a decline in the storage surplus. The September Nymex gas futures contract settled at $2.725/MMBtu, up 14.8 cents from Friday. Spot gas prices, including the NGI Spot Gas National Avg., also increased. Hellish temperatures in Texas are expected to continue, with electricity demand records likely to be broken.
Topics:businessenergy#cash-prices#electricity-demand#energy#hot-weather-forecast#natural-gas-futures#storage-surplus
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