Natural gas futures rebounded on Wednesday as traders refocused on expectations for strong weather-driven demand in August and continued steady export activity. The August Nymex contract gained 7.3 cents day/day and settled at $4.044/MMBtu. September rose 2.5 cents to $3.967.

At A Glance:

  • Futures fly higher eight out of nine days
  • August expires as prompt month above $4.00
  • Intense western heatwave fuels cash prices

NGI’s Spot Gas National Avg. also bounced back from a loss the day earlier and advanced 3.5 cents to $3.930 on Tuesday

August rolled off the books as the prompt month at Wednesday’s close. It posted gains on eight of its final nine days, and at multiple points it eclipsed the $4.00 threshold and reached highs last seen in 2018.

In that span, Tuesday was...