Natural Gas 09:30 AM EDT, 04/11/2022 (MT Newswires) -- Benchmark natural gas rose to a fresh 14-year high early on Monday as cool weather is expected to boost demand as supplies remain tight.
Gas for May delivery was last seen up US$0.19 to US$6.47 per million British thermal units, the highest since late 2008.
The rise comes as forecasts from the National Weather Service see unseasonably cool temperatures for nearly all of the United States next six to 14 days, boosting heating demand during what is normally a shoulder season for the fuel, while supply remains tight as LNG exports are at capacity.
"Nat gas prices were wildly volatile last week, and we expect they will be again this week with continued daily 25-40 (cent) swings, aided by the Russian invasion of Ukraine and US gas supplies remaining tight into the start of May as deficits hold near -300 Bcf," NatGasWeather noted.