Natural gas futures fluctuated again Friday but ultimately forged ahead as weather forecasts pointed to above-average cooling demand in August. The September Nymex gas futures contract gained 9.5 cents day/day and settled at $8.229/MMBtu. It had shed 42.0 cents in its debut as the prompt month a day earlier, when price swings also defined trading.

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At A Glance:

  • Strong demand forecast for August
  • South Central supplies under pressure
  • Cash prices cruise in the West

The October futures contract rose 9.0 cents to $8.208 on Friday.

NGI’s Spot Gas National Avg. ticked up 3.5 cents to $8.330, with notable gains in the West.

Bespoke Weather Services said domestic demand was projected to ease modestly over the final weekend of July with moderating northern temperatures. Still,...