US Natural Gas Storage Draws Deepen Amid Scorching Heat Waves

Natural gas storage levels have declined across several major markets in the South Central and Western United States as extreme heat waves have gripped the regions, driving up demand for cooling.

The impact of these heat waves has been particularly pronounced in the West, where natural gas storage levels slipped by 9 billion cubic feet (Bcf) in the South Central region, 7 Bcf in Pacific inventories, and 2 Bcf in the Mountain region stocks.

This significant drawdown in storage is largely due to the increased demand for cooling during these heat waves. The Henry Hub benchmark price has also seen a corresponding increase, although no specific figure was mentioned in the source.