Natural Gas Hits 31-Month U.S. High as Heat Adds to Supply Worry

natural gas hits 31 month u s high as heat adds to supply worry

Sumary of Natural Gas Hits 31-Month U.S. High as Heat Adds to Supply Worry:

  • (Bloomberg) — Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later this year.
  • Stockpiles are already below normal for the time of year, and production growth has been restrained as drillers heed investor calls for capital discipline.
  • In May, the U.S. shipments of liquefied natural gas exceeded Australia’s for the first time ever as buyers around the world continued to purchase record amounts of the super-chilled fuel.

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