LNG Hopes Fuel US Natgas Price Rise

US natural gas prices rose to a five-week high on hopes for increased liquefied natural gas (LNG) exports. The increase was driven by expectations that rising global demand will lead to higher LNG shipments from US terminals.

The price of NBP, the UK's benchmark natural gas price, decreased by 1.10 pounds ($1.45 USD) or 0.59% to 185.98 pounds per megawatt hour (MWh). However, this was seen as a minor correction in an otherwise upward trend.

OGDC, Pakistan's Oil and Gas Development Company, saw its shares increase by 4.60 rupees ($0.028 USD) or 1.40% to 333.30 rupees per share, while PRL, Pakistan Refinery Limited, rose by 3.90 rupees ($0.024 USD) or 3.73% to 108.32 rupees per share.