Commodities
US Nat-Gas Prices Rise as Hotter Weather Forecasts Support Demand
Natural gas prices surged on Friday as forecasts pointed to hotter US weather, potentially boosting demand from electricity providers for air conditioning use.
The Commodity Weather Group reported a shift in temperatures, with above-average heat expected across Texas, the Southwest, and the Interior West through September 4.
Nat-gas prices also rose as forecasts predicted record-high temperatures in West Texas over the next week, further supporting demand.
The Electric Reliability Council of Texas forecasted peak power demand exceeding the all-time record set in July.