US natural gas contracts close down from their highest levels since 2008 | Market talk

US natural gas futures fell by regarding 1% during trading on Wednesday, recovering from their highest levels in 14 years.

This comes despite the decline in US gas production, the rise in temperature on the West Coast and in the state of Texas, as well as the rise in prices in global markets.

At the close of the session, US gas futures for September delivery fell 0.9%, or 8.5 cents, to $9.244 per million British thermal units, following ending Tuesday’s session at the highest level since August 2008.

This, and US gas contracts are still high by regarding 145% since the beginning of 2022 until now, but the price jump in Europe and Asia boosts the demand for US exports of liquefied gas, especially in light of the decline in Russian supplies to the old continent following the outbreak of war in Ukraine on February 24 February.

Gas trades in Europe amounted to regarding $69 per million British thermal units, while prices reached $57 in Asia.