U.S. Natural Gas Prices Jump To 29-Month High On Extreme Weather

U.S. natural gas prices jumped last week and early on Monday amid a tight natural gas market and expectations of high demand for electricity in hotter than usual weather in many parts of the United States. As of 8:19 a.m. EDT on Monday, the U.S. benchmark natural gas price at the Henry Hub was trading at above $3.

50 per million British thermal units (MMBtu)—at $3.549, up by 1.52 percent. This was the highest price for the prompt futures in 29 months.   On Thursday last week, the Energy Information Administration (EIA) reported net injections…