Natural gas futures prices rebounded Tuesday on increasing heat in the forecast for this week, as well as modest changes to the supply/demand balance. The September Nymex gas futures contract settled at $4.089, up 2.9 cents from Monday’s close. October picked up 2.8 cents to reach $4.103.

At A Glance:

  • Latest forecasts quick to cool
  • Power burns holding strong
  • Widespread heat boosts cash

Spot gas prices also strengthened at most hubs, with the latest forecasts showing widespread highs in the 90s and low 100s across the United States. NGI’s Spot Gas National Avg. climbed 5.5 cents to $4.115.

Though the dog days of summer are winding down, this week’s heat is expected to be a doozy. The hotter outlook drove early gains for futures and cash prices alike. As for the...