Gas Prices Soar as Hot Weather Persists

US natural gas prices have reached their highest level in nearly eight weeks, hitting $2.94/MMBtu as hot weather persists and LNG export activity increases.

The hot temperatures across the central US are expected to continue through mid-September, driving up demand for gas-fired power generation.

Average gas flows to major LNG export plants have risen to 18.3 bcfd in early September, up from 17.2 bcfd in August, as facilities like Cheniere Energy's Corpus Christi and Freeport LNG return to full operations following maintenance.