Ezz_steel1
kuwait_steel1
imatal4
Ezz_Web_Banner_Side_280x200
qatar_steel2
banner_7_22_300e2
banner_bahrian_600
banner_bahrian_600

Gas prices in the United States rose to the highest level in 14 years

US natural gas futures rose above $9.50 per million British thermal units, a level not reached since August 2008; buoyed by increasing domestic and international demand and production decline.

Consumption and demand for cooling increased as the weather warmed in the US, which is a significant price driver in the near term, as energy demand prepares to break a record this week in Texas.

On a general level, Russia’s war on Ukraine has caused a global energy crisis, with US LNG demand set to remain high in part due to Europe’s calls for US exports to help reduce dependence on Russian gas.

On the supply side, data provider Refinitiv said average gas production in the 48 US states fell to 94.7 billion cubic feet per day so far in June from 95.1 billion cubic feet per day in May, compared to a monthly record of 96 billion.

Data from the EIA showed that gas held in storage facilities in the United States increased more than expected last week.

On May 25, global natural gas prices rose to more than $9 per million British thermal units, reaching their highest levels in more than a decade, with the dwindling stock announcement.

Share on twitter
Twitter
Share on facebook
Facebook

Related News

Ezz-780-1
kuwit-steel3
mih-1

Latest News

About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

Subscribe Newsletter

Contact us

General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org

All rights reserved Arab Iron and Steel Union | 1971 - 2022

Powered by Mohamed Hamed