US natural gas rises for 1st time in 3 sessions

US natural gas prices rose for the first time in three sessions, despite continued pressure from expectations of mild weather and ample supply in the market.

On Tuesday, natural gas futures for September delivery in New York climbed 0.75% to $2.716 per million British thermal units as of 9:19 pm Makkah time.

According to LSEG, average US natural gas production increased to 108.5 billion cubic feet per day so far in August, after hitting a record 107.8 billion cubic feet per day in July.

The firm also projected that demand for US natural gas, including exports, will fall to 106.6 billion cubic feet per day next week, down from 111.1 billion cubic feet per day this week.