Summer weather stepped up its game this week, providing momentum to spot gas prices as air-conditioning needs ramped up across much of the country. With highs in Texas and much of the central United States soaring into the 90s, NGI’s Weekly Spot Gas National Avg. climbed 13.0 cents to $2.930.

EIA storage june 4

Nymex futures also ended the week sharply higher, led by news that a major pipeline could operate at a reduced pressure on a portion of its system for several months. The July Nymex contract closed the week at $3.296, up 22.6 cents from Monday’s close.

Building heat in portions of the United States did play some role in Nymex gas price strength this week. But the biggest impact was in the cash market side, particularly in the Northeast, which was hot early in the period but in store for...