From the beginning of this year to September 13, the price of NYMEX natural gas in the US futures market has risen by more than 100%, and for the first time since February 2014, the price of natural gas has exceeded US $5 per million British thermal unit (mmBtus). The price of NYMEX crude oil has risen by nearly 46%. The price of Comex copper has risen by more than 24%.

In addition, on Sept. 13, Lun aluminum rose to the $3000 mark for the first time in 13 years, and aluminum prices have risen nearly 46% so far this year; Lenny prices have risen nearly 19%.

The energy market is undergoing a huge shift as countries around the world shift from carbon-based fuel sources to cleaner alternatives. The International Energy Agency forecasts that natural gas consumption will grow by 29% in 2040, while oil demand will grow by another 7%.

Christin Redmond, a global commodities analyst, said most offshore gas production remained suspended, while unusually high temperatures in the eastern and central US were expected to last until the end of the month, while the market was still in short supply as demand for power generation increased.

Other analysts pointed out that due to the damage caused by Hurricane Ida to infrastructure in the Gulf of Mexico and the impact of the COVID-19 epidemic, U.S. oil production has fallen by about 1.4 million barrels per day since the end of August.