London, Monday, 18 April 2022
For the first time since September 2008, US natural gas futures broke above the $8/MMBtu mark, as increasing global demand to replace Russian gas, particularly in Europe, keeps LNG exports at record highs, while heating demand in the US remains robust.
Another bout of winter weather is expected in the middle of spring, with much of the eastern and northern states anticipating fresh snow this week, according to weather projections.
The start of the storage injection season was delayed due to strong domestic and international demand, and natural gas in storage is now at its lowest level in three years.
Natural gas prices in the United States have more than doubled since the start of 2022, raising inflationary fears throughout the economy.
(Written and edited by: The Decision Maker)