Extreme heat joins Russia risk in driving natural gas rally

TOKYO -- Extreme heat across much of the world is driving natural gas prices to some of the highest levels this year, exacerbating the upward pressure from worries about Russia curbing supplies to Europe again.

The weekly spot price in Asia for liquefied natural gas reached a year-to-date high of $12.60 per million British thermal units (Btu) on June 14, up by roughly half from the three-year low in March, London Stock Exchange Group data shows.