US-Iran Tensions and Record Heat Fuel Natural Gas Price Surge
Natural gas futures surged on Wednesday as traders anticipated a significant build in storage ahead of the expected lean injection. The September heat forecasts, which are now tracking as the hottest on record, provided another bullish catalyst for prices to test the $3 mark.
Additionally, renewed US-Iran fighting added a fresh jolt from overseas, further fueling the upward momentum in natural gas futures. At a Glance:
The TTF price hit its highest since January 2023, while NGI models anticipate a storage injection of 31 Bcf.