Commodities
US Natural Gas Prices Rise Amid Hot Weather and LNG Export Boost
US natural gas futures prices surged to $2.92 per million British thermal units (MMBtu) on Friday, following a decline of 1.5% in the previous session.
The increase was driven by forecasts for hot weather and improving liquefied natural gas (LNG) export activity, despite ample domestic supplies.
Hot weather across the continental US kept cooling demand elevated, supporting gas consumption for power generation.
Average gas flows to major LNG export plants rose to 18.3 billion cubic feet per day (bcfd) in early September, up from 17.2 bcfd in August.