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Rich Asplund

Stronger Domestic Demand Lifts Nat-Gas Prices

United States BNEF Nymex Electricity Natural Gas EIA

August Nymex natural gas (NGQ26) on Monday closed up +0.049 (+1.53%).

Nat-gas prices settled higher on Monday amid speculation that the recent heatwave that engulfed over two-thirds of the US sparked heavy demand for nat-gas from electricity providers to power the surge in air-conditioning usage, which also drew down domestic nat-gas storage levels. According to BNEF data, last Wednesday’s and Thursday’s domestic nat-gas demand jumped to a 3-month high.

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