Natural gas prices rose by 2.09% to reach 273.3, driven by weather forecasts and geopolitical developments.
Persistent heat in key US regions, coupled with the President’s acceleration of the Ukraine ceasefire deadline for Russia, has boosted air conditioning use and power sector gas consumption.
Despite rising prices, supply remains robust, with average output in the Lower 48 states reaching 107.5 billion cubic feet per day in July.
Dry gas production is expected to reach record highs in 2025 and 2026, while domestic gas demand is expected to rise to 91.3 billion cubic feet.
