$3 Natural Gas Price Target Looms as September Forecasts Turn Hot
Natural gas futures rose on Wednesday as hotter-than-expected September forecasts and optimism over liquefied natural gas (LNG) exports pushed the price of the prompt month toward $3 per million British thermal units (MMBtu).
However, strong production provided a counterweight to this upward momentum. As a result, prices gained 6.5 cents in October.
The Waha market topped $2 according to data from the Intercontinental Exchange (ICE). The latest developments mark a shift in sentiment for natural gas prices, which have been impacted by various factors including production levels and demand for LNG exports.