Natural gas futures on Monday cruised higher for a second consecutive session as forecasts pointed to stronger weather-driven demand over the back half of July.

NGI Storage Snapshot

The August Nymex contract advanced 10.5 cents day/day and settled at $3.779/MMBtu. The prompt month had gained 6.0 cents on Friday to close out trading last week. The September contract rose 9.6 cents to $3.754 on Monday.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

NGI’s Spot Gas National Avg. jumped 24.5 cents to $3.730, with gains across every region of the country to start the week.

Bespoke Weather Services noted a shift in forecasts Monday to stronger heat than what outlooks showed prior to the weekend.

“The change was not large” in terms of total...