U.S. front-month gas futures rose 4.5 cents, or 0.9%, to settle at US$5.232 per million British thermal units (mmBtu), putting the contract on track for its highest close since Feb. 2 for a second day in a row. The U.S. market remains mostly shielded from higher global prices because the United States has all the fuel it needs for domestic use, and the country's ability to export more LNG is constrained by limited capacity.(File pic shows Malaysia's MISC LNG tanker Camellia.)
NEW YORK: U.S. natural gas futures edged up to a seven-week high on Wednesday on forecasts for cooler weather and higher heating demand over the next two weeks than previously expected.
That price increase also came as global demand for gas to replace Russian fuel after the country's invasion of Ukraine keeps U.S. liquefied natural gas (LNG) exports near record highs and European gas
Limited time offer:
Just RM5 per month.
