Commodities
Natural Gas Futures Surge Above $3/MMBtu on Heat Wave Demand
Natural gas futures are eyeing the $3 handle after experiencing a surge in early Tuesday trading, thanks to strong liquefied natural gas (LNG) exports and intense heat searing the middle of the country.
The heat wave is particularly threatening the Southern Plains region, where temperatures have reached triple-digit highs. This increased demand for cooling is contributing to higher natural gas prices.
LNG exports are also rebounding to near all-time highs, further supporting the increase in natural gas futures. Feedgas volumes are near their highest levels on record, adding to the upward pressure on prices.