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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Surge on Scorching Heat in Texas

Texas United States ERCOT Nymex Electricity BNEF Natural Gas

July Nymex natural gas (NGN23) on Tuesday closed up +0.074 (+3.27%).

July nat-gas Tuesday rallied sharply on the outlook for increased power demand in Texas, the largest nat-gas consuming state.  The Electricity Reliability Council of Texas (ERCOT) said Tuesday that due to soaring temperatures this week, it expects air-conditioning use in Texas to climb to a record 80.3 gigawatts on Thursday and even higher on Friday.  U.S. nat-gas prices also have carryover support from a rally in European nat-gas prices Tuesday to a 5-week high.

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