Bolstered by favorable weather outlooks and supply concerns, natural gas futures forged higher on Tuesday, following a 10.5-cent gain the previous day. The August Nymex contract settled at $3.876/MMBtu, up 9.7 cents day/day and in the green for a third consecutive session. September rose 9.8 cents to $3.852.

West Texas Prices

At A Glance:

  • Demand forecasts hold strong
  • Exports prove robust in 2021
  • Cash prices post further gains

Tuesday’s trading lifted the prompt month to a two-and-a-half year high.

NGI’s Spot Gas National Avg. gained 3.0 cents to $3.760. Cash prices averaged 24.5 cents higher a day earlier.

Forecasts on Tuesday shifted hotter for a second straight day, with a couple more gas-weighted degree days added to the end of the 15-day outlook in both the European and domestic...