US gas prices spike on increased exports to Europe ...News

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US gas prices spike on increased exports to Europe
Futures have jumped to the highest level since October 2008 US natural gas prices reached their highest levels in more than 13 years on Monday, with futures jumping over 3% to trade as high as $7,569 per million British thermal units. Record shipments of liquified natural gas (LNG) to Europe, in order to replace Russian supplies, have been boosting domestic prices. “With momentum firmly bullish and the market ill-equipped to handle any further bullish shocks, notable continued gains for natural gas remain likely this summer,” EBW Analytics said, as quoted by CNBC. The firm added that a “bullish weather shift” has

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