NG pricing comments 09:32 AM EDT, 09/14/2022 (MT Newswires) -- Benchmark natural gas was up more than 5% early on Wednesday on expectations hot weather will continue to support cooling demand in big gas markets.
Gas for October delivery was last seen up US$0.42 to US$8.83 per million British thermal units, a two-week high/
The rise comes as bulls continue to anticipate strong cooling demand as hot weather continues for big Eastern markets. The six to 10-day forecast from the National Weather Service expects much hotter than seasonal temperatures east of the Rocky Mountains for the forecast period as summer heat lingers.
"The eastern 2/3 of the US will warm above normal next week w/highs of 70s and 80s, besides hotter 90s S. Plains and Texas. Cooler exceptions next week will occur over the unsettled West Coast," NatGasWeather noted.