LNG

The September Henry Hub contract settled 8.6 cents higher at $2.759 per million British thermal units on Wednesday, according to CME data. Analysts anticipate further price rises as weather forecasts turned hotter across the southern and western part of the US. Eli Rubin, senior energy analyst at EBW Analytics Group, said peak demand on the Electric Reliability Council of Texas (ERCOT) system could set a new record this week. The grid operator forecast demand would exceed its 91.089-gigawatt (GW) record on each day from August 20 through August 24, with the potential to rise by almost 1 GW above the previous peak later in the period. Houston temperatures are expected to average about 100 degrees Fahrenheit (38 degrees Celsius) this entire week through August 23, roughly 5 F above normal, according to AccuWeather data.