NextDecade Corporation's stock soared 6.27% in intraday trading on Tuesday, outperforming the market as the natural gas company benefited from multiple favorable factors driving up demand and prices for natural gas.
The surge was fueled by record flows of natural gas to liquefied natural gas (LNG) export plants, indicating robust demand from overseas markets. Additionally, forecasts pointed to higher natural gas demand in the coming week, adding further upward pressure on prices.
Moreover, concerns over potential declines in natural gas exports from Canada to the U.S. due to newly imposed tariffs by the Trump administration provided an additional boost to NextDecade and other domestic natural gas producers. Traders speculated that any reduction in Canadian gas imports could increase demand for domestically produced natural gas, benefiting companies like NextDecade.
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