US Natural Gas Surges as Record Heat Drives Demand, Output Slips
📡 Bloomberg Markets · 1 min read ·
Part of composite article Title: Heat Wave Sends Chicago ERs Reeling as U.S. Gas Prices Hit One-Month High View full article →
US natural gas prices rose again on Monday, extending gains from the previous session, as weekend weather forecasts turned even hotter. That signals stronger demand for the fuel, which powers many air-conditioning units as consumers crank them up to escape the heat.
According to the private forecaster Commodity Weather Group, this month is now on track to become the hottest population-weighted August on record, surpassing the previous high set in 2007. Lower gas output is also supporting prices, adding further upward pressure.