Natural gas demand tightens as heat and AI power plans lift focus

Nikkei Asia+1 · 16 hours ago
Natural gas demand tightens as heat and AI power plans lift focus
  • September Nymex natural gas settled up 2.29% as record heat forecasts across the US increased expected electricity demand for air conditioning.
  • US gas inventories rose by 15 bcf for the week ended August 21, below the five-year average build of 33 bcf, supporting near-term prices.
  • Residents expressed mixed but mostly curious reactions to SoftBank Group-backed plans for a 770-acre Ohio gas-fired power plant intended to serve an AI data center.
  • Medium-term supply remains a counterweight: EIA projects US gas storage at 3,985 bcf by end-October, the highest level in 10 years and 5% above the five-year average.