Commodities
LNG Demand Keeps Natural Gas Prices Afloat Amid Ebbing Weather-Driven Demand
Natural gas futures prices remained relatively steady on the New York Mercantile Exchange (NYMEX) at midday on Friday, despite a drop in weather-related demand. The October natural gas contract rose by 2.6 cents to $2.927/MMBtu around 11:45 a.m. ET.
According to Intercontinental Exchange data, the benchmark cash price averages $2.979 per MMBtu. This slight increase was likely due to continued demand for liquefied natural gas (LNG), which is often used as a substitute for natural gas in peak-demand periods.