Natural Gas Prices Soar on Heat Wave, LNG Export Boost

US natural gas futures surged more than 5% on Monday due to hotter weather forecasts and increasing demand from liquefied natural gas (LNG) export terminals.

The price of natural gas for September delivery jumped 5.1% to $2.804 per million British thermal units (MMBtu), marking its strongest intraday advance in over two months.

Weather forecasts indicate that above-normal temperatures will persist through August 25, boosting electricity demand as households and businesses increase air-conditioning use.