(Bloomberg) Supplier concerns in the natural gas industry saw its futures in the US jump to the highest level of $4.003 per million British thermal units in 31 months.
Supply concerns of natural gas were fueled by summer heat, with projections of an undersupply premium of 62.9 cents in March 2022.
US natural gas concerns are further fueled by a potential shortfall in the winter, when demand in households and businesses rise.
Exports are also seen to tighten gas supplies, with the US shipments of liquefied natural gas exceeding Australia’s for the first time in May.
With natural gas stockpiles remaining 6.2% below normal and production growth constrained, analysts see the current rally continuing.
NG1! is down -0.15%.
