Natural Gas Is Looking Like This Summer’s Hottest Commodity

The heat wave that scorched the West has dissipated, but natural-gas prices have yet to cool off.

The power-generation fuel has been in high demand to run air conditioners and make up for parched hydropower markets, and forecasters expect booming exports and more steamy weather to keep supplies down and prices up.

Natural-gas futures have gained 37% since April and are more than twice the price of a year ago. They settled Tuesday at $4.027 per million British thermal units.

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