Natural gas prices in the United States rose, achieving their best weekly performance in two months, as colder-than-usual weather conditions fuelled concerns about replenishing supply before summer, a period when demand generally increases for the production of & Electricity required for the operation of air conditioners

Gas futures for April delivery on the New York Mercantile Exchange increased by 9.7 cents, or 2.3%, to $4.399 per million British thermal units (MMBtu). The contract rose by 14.1% over the week, marking its biggest weekly increase since January

“We're experiencing a cold spell at the end of the season, raising concerns about supply building ahead of summer cooling demand,” said Phil Flynn, an analyst at Price Futures Group.

The tariff situation is adding uncertainty, with a potential slowdown in Canadian exports to the United States making it more difficult to rebuild storage levels, Flynn added.

Gas prices soared earlier this week due to record flows to liquefied natural gas (LNG) export plants and concerns that Canada would cut electricity and gas exports to the United States after U.S. President Donald Trump imposed tariffs on Canada and Mexico on 4 March.

In the import market, Canadian gas exports to the United States have fallen to an average of 8.2 billion cubic feet per day in the past few days since the Trump tariffs were imposed, down from an average of 9.8 billion cubic feet per day in the previous 11-day period, from February 21 to March 3, according to data from LSEG