Natural gas futures slipped several notches Tuesday as export demand weakened a bit and the latest data showed more seasonal weather ahead. The September Nymex contract settled 4.9 cents lower day/day at $3.896. October slipped 4.4 cents to $3.916.

Henry Hub forward prices

At A Glance:

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

Spot gas prices, however, continued to strengthen amid widespread heat and humidity across the country. NGI’s Spot Gas National Avg. rose 6.5 cents to $3.995.

Though the summer is winding down, temperatures through the coming weekend are expected to set seasonal records in some regions of the United States. After trending warmer in recent runs, weather models showed gas-weighted degree days coming in only slightly lower than the record...