NYMEX NatGas Price Up 14% Last Week to $3.75; Heading for $4.30?

The NYMEX futures price for natural gas keeps climbing. Significantly. Last week, the "front month" contract for the NYMEX gained 46.8 cents per MMBtu (up 14% for the week). On Friday, the price closed at $3.748/MMBtu. The price soared 16.4 cents on Friday alone! Friday's closing price was the highest since Monday, Jan. 9, 2023---in nearly two full years. U.S. natural gas storage withdrawals are "exceeding seasonal averages, and record liquefied natural gas (LNG) export volumes are maintaining strong demand," said Brian Swan, senior commodity analyst at Schneider Electric, in a daily note. What's next for the price?

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