Original title: us natural gas futures soared by more than 7%, with two pushers behind it.
Natural gas prices continued to rise on Aug. 26, rising 7.6% as of 4:00 CET, hitting a daily high of $4.27 per million British heat since 2019.
According to natural gas inventory data released by EIA, U.S. natural gas stocks totaled 2.851 trillion cubic feet in the week ended Aug. 20, an increase of 29 billion cubic feet from the previous week and a sharp drop from the previous period.
Bespoke Weather Services said EIA's figure of 29 billion cubic feet reflected once again the very tight supply situation. And as the season of large demand for natural gas in the United States approaches, the imbalance between supply and demand will gradually be magnified.
Het Shah, managing director of Enelyst, said:
"if it starts to get cold earlier this winter, everything will go crazy."
In addition, the weather also has a great impact on natural gas. Due to the tropical storm, BHP Group LtdA number of companies, including Statoil, have said they have evacuated workers from oil platforms in the Gulf of Mexico.
The National Hurricane Center says tropical storm warnings are in force and warnings for mountain torrents and landslides are likely to last until the weekend. There is no assessment of the reduction in energy production caused by the storm, but its impact may have been reflected in u.s. natural gas futures, which continue to rise by more than 8%.