Natural Gas Prices Explode On Stronger Demand

Rallying from a seven-week low in the prior session, natural gas futures rose more than 15% on Wednesday afternoon as the demand outlook for natural gas improves. At 1:16 p.m. EDT, front-month natural gas futures rose by $0.270 to $2.104—up from its $1.845 open. Buyers will no doubt have their eye on that $2 threshold. According to Refinitiv data, U.S. production of natural gas was on track to fall to its lowest in two years on Wednesday, to 83.8 bcfd. On top of that, according to the same Refinitiv data, U.S. pipeline exports to Mexico were…