U.S. gas prices hit at a 14-year seasonal high as the country battles persistent high temperatures. U.S. gas prices hit at a 14-year seasonal high as the country battles persistent high temperatures and resultant soaring cooling demand for gas. That’s what Rystad Energy Analyst Karolina Siemieniuk highlighted in a market note sent to Rigzone late Tuesday, which outlined that Henry Hub gas prices rose to $8.99 per MMBtu on July 26, before falling to $8.283 per MMBtu on August 1. At the time of writing, Henry Hub gas prices were hovering just under $8 per MMBtu. The commodity closed above $9 per MMBtu in June but dipped to under $6 per MMBtu in July. In the note, the Rystad analyst pointed out that, in the west, prolonged droughts and reduced hydro-electric generation had contributed to elevated gas use. “At the same time, the U.S. has become the largest LNG […]