Energy Investing - U.S. natgas futures soar 8% on jump in LNG and power usage - Energy Investing - InvestorVillage


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Msg  420339 of 430222  at  5/23/2022 4:35:25 PM  by

old_doodle_bugger


U.S. natgas futures soar 8% on jump in LNG and power usage

Mon, May 23, 2022, 8:58 AM

NG=F +8.40%

“(Adds latest prices) May 23 (Reuters) - U.S. natural gas futures jumped about 8% to a near 13-year high on Monday as power generators and liquefied natural gas (LNG) exports plants consumed more of the fuel. Power and gas prices soared last week as homes and businesses cranked up their air conditioners to escape a spring heatwave. To keep the lights on, generators burned more gas to produce power. In addition, there is usually less wind when it's extremely hot. That means generators need to burn even more gas to make up for the lost wind power.”

Full article, with additional detail, at: https://finance.yahoo.com/news/1-u-natgas-futures-jump-155845411.html

 


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