Heat wave pushes up natural gas prices


Some of the hottest weather on record is driving up natural gas prices, reversing last month’s plunge and reigniting a key driver of inflation.

Natural gas futures jumped 48% this month, including 10% on Wednesday, to $8.007 per million British thermal units. That’s still more than a dollar off a 14-year high just before a natural gas export facility in Texas caught fire in early June and sent prices plummeting along with export prospects. . Still, fuel for power plants and manufacturing rebounded to more than double the price of a year ago, adding cost pressure across the economy.


Wj

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button