U.S. Natural Gas Prices Hit $9 For The First Time Since 2008

U.S. benchmark natural gas prices jumped to above $9 per million British thermal units (MMBtu) early on Wednesday, driven by high LNG exports, warmer weather, and volatile trade ahead of the prompt-month contract expiry. As of 9:15 a.m. EST on Wednesday, the front-month natural gas futures at the Henry Hub, the U.

S. benchmark, had jumped to $9.168/MMBtu, up by 4.93% on the day. The June contract expires on Thursday, while options expire on Wednesday. U.S. natural gas prices have surged by more than 130% since the beginning of the year, due to strong…