After plunging to a 5-week-low on Tuesday, natural gas prices in the U.S. have ramped up again, gaining 4% on Wednesday on excessive temperatures expected to last through next week. By 3:05 p.m CT, Henry Hub natural gas prices were at $7.514, up 4.52%, up over 109% year-to-date. July Nymex natural gas ( NGN22 ) on Wednesday closed up +0.231 (+3.21%). Demand for natural gas to power air-conditioners is expected to rise significantly as one-third of the United States is witnessing extreme heat warnings. Over the next few days, heat indexes are expected to break records, putting additional pressure on electricity providers. Heat waves are also spreading across Europe, where natural gas prices surged more than 20% on Wednesday. Gas prices in Europe continue to spike not only on temperature but on Russia‚Äôs move this week to curb gas supplies via Nord Stream. On Tuesday, Gazprom said it would […]