Supported by sustained hotter-than-normal temperatures in the forecast, natural gas futures probed slightly higher in early trading Tuesday. The August Nymex contract was up 1.1 cents to $3.711/MMBtu at around 8:50 a.m. ET.

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At A Glance:

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

The lack of clarity on the duration of a production disruption in the Northeast continued to cause some fireworks in the natural gas futures market on Friday. Despite early weakness stemming from cooler weather forecasts ahead of the Independence Day holiday weekend, the August Nymex futures contract climbed another 3.9 cents to settle at $3.700. The September contract edged up 3.6 cents to $3.668.

Spot gas prices, which traded for delivery through Tuesday, fell...