Natural Gas Futures Likely to Record Another Climb Supported by Substantial Energy Demand
Natural gas prices registered a two-fold growth since July, with a 19 per cent increment this month on anticipated increase in demand for nat power generation. On Monday, Natural gas futures moved towards U.S.D. 3 million British Thermal units registering a gain by 5.1 per cent and settling at U.S.D 2.811 British Thermal units. As per Analysts, the desired heating for a structure would require an increased quantity of feedstock with cooler days approaching in U.S. As weather abnormalities are perceived to play a wildcard, the demand rebound in addition to favourable weather changes can strike an optimum balance to considerably push up natural gas prices by 2021. Moreover, certain goldilocks scenario in economies where the demand for residential natural gas has recorded a continuous upsurge along with its increased industrial demand after easing pandemic restrictions, has highly contributed to provide a double or triple fold rise in international gas prices.