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The Guardian - US
The Guardian - US
Business
Edward Helmore

Natural gas prices rising in US, dampening hopes for lower inflation

Gas prices have surged in part because of demand from overseas buyers.
Gas prices have surged in part because of demand from overseas buyers. Photograph: Marie D De Jesús/AP

The price of natural gas in the US has risen by nearly half in the past month, as drought and the war in Ukraine continue to bite and millions of Americans turn up their air conditioners in a heatwave.

Natural-gas futures jumped 48% this month, including 10% on Wednesday, to $8.007 per million British thermal units (btu). The rise has come as other energy costs, including oil, have begun to drop from their June peaks.

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