Commodities
Heat Wave Keeps Natural Gas Futures Climbing Amid Record-Breaking Demand
Natural gas futures have rebounded to positive territory after a record-breaking August heatwave showed no signs of letting up, according to the latest data from Natural Gas Intelligence.
The NGI models suggest a storage injection of 23 Bcf (billion cubic feet) ahead of Thursday's government inventory report. Additionally, LNG feedgas has climbed back above 18 Bcf/d (daily), providing momentum for bulls in the market.
As the heatwave continues into September, the prompt month is set to shift to October on Thursday, further fueling expectations of increased demand and higher prices.