NEW YORK: US spot natural gas prices rose at most price points on Monday as weekday demand returned, with California showing the strongest gains due to a heat wave in the state that bolstered demand.
California's power grid operator on Monday issued a rare plea for customers in the north of the state to conserve energy over the next few days due to the scorching temperatures and the anticipated rise in consumption.
Prices for Tuesday delivery at the South California border rose 17 cents to $3.84 per million British thermal units, one of the highest risers on the day, according to ICE data.
At Henry Hub, the benchmark supply point in Louisiana, prices fell five cents to $3.52 as milder temperatures prevailed there. Prices were 3 cents under the front month futures contract, unchanged from Friday.
NYMEX futures rose nearly 2 cents to $3.583 in late trade on Monday.
In major consuming regions, prices on the Transco pipeline at the New York citygate rose 8 cents to $3.67 per million British thermal units. In Chicago, prices rose 1 cent to $3.59.
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