Hot weather and high gas prices in Texas and the Southeast are posing a renewed threat to gas storage in the US South Central region as strong spot gas demand fuels a steep drawdown from inventory. In July, population-weighted temperatures in Texas averaged a brow-raising 90s degrees Fahrenheit, or nearly 6 degrees above last summer’s average for the month, data from Platts Analytics shows. In cities from Wichita, Kansas to Birmingham, Alabama, high temperatures last month topped 100 degrees on some days, with many locations experiencing unrelenting stretches of triple-digit heat. Cooling demand across Texas and the Southeast has been on a tear as a result. Total demand for gas-fired power across the region averaged a record-high 21.1 Bcf/d last month, outpacing the prior three-year average by 2.2 Bcf/d, or nearly 12%. At locations east of Henry Hub, spot prices have rocketed to never-before-seen premiums, thanks mostly to maintenance […]