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Rich Asplund

Nat-Gas Prices Jump on Hot US Temps and Expectations of a Smaller Storage Build

United States Nymex BNEF EIA Electricity Natural Gas

September Nymex natural gas (NGU26) on Wednesday closed up +0.072 (+2.60%).

Nat-gas prices rallied to a 1-month high on Wednesday and settled sharply higher. Forecasts for hot US weather that will boost nat-gas demand from electricity providers to power increased air-conditioning use pushed prices higher on Wednesday. The Commodity Weather Group said on Wednesday that forecasts shifted to hotter, with well-above-average temperatures expected across the eastern two-thirds of the US from August 31 through September 4.

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