U.S. natural gas futures jumped about 14% on Thursday to their highest in a week, supported by a much smaller-than-expected storage build last week as power generators burned lots of gas to keep air conditioners humming during an extreme heat wave. Even before the government released the storage report, prices were already up about 5% because last week’s heat wave was still scorching much of the country. Power demand in Texas has kept breaking all-time highs, and gas output has dropped in recent days. read more The U.S. Energy Information Administration (EIA) said U.S. utilities added 60 billion cubic feet (bcf) of gas to storage during the week ended July 1, much lower than the 74 bcf analysts forecast in a Reuters poll. It compared with an increase of 25 bcf in the same week last year and a five-year (2017-2021) average increase of 60 […]