Natural gas prices in the US hit 14-year high, details here

The prices of natural gas have continued to run up. In the European markets and the UK, the prices are trading at record highs but in the US markets as well, the prices have hit a 14-year high at $8 per mmbtu. For the Indian markets, the natural gas prices were at Rs 600. Some profit taking has been seen in the global and the Indian markets right now.

However, there are concerns about below normal temperature and that would mean higher demand continuing from the western world, it also has to do with the record US exports which is trying to make up for the Russian losses to the European Union.

The US inventories are at a 3-year lows, are lower as compared to the previous year and are nearly 17-18 percent lower as compared to the 5-year average.

The US is exporting record LNG Volumes to EU. The volumes have grown 13 percent year-on-year (YoY). However, the production for the same period has gone up by 5 percent, which is lower than what was seen in the last year.