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Commodities

Nat-Gas Prices Spike on Hot US Weather Forecasts

Guavy AI Editorial Team
Instruments
Natural Gas
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Natural gas prices surged on Monday due to forecasts of hotter US weather, potentially boosting demand from electricity providers for air conditioning use.

The Commodity Weather Group reported a shift in forecasts showing much hotter temperatures in the central and southern US in the coming weeks.

Nat-gas also received carryover support from European prices, which jumped 11% to a two-week high on uncertainty regarding the Strait of Hormuz reopening.

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