Natural gas futures advanced for the second time early this week, supported by a hit to production and advancing heat in the South that galvanized increased cooling demand. Following a 1.2-cent gain to start the week, the July Nymex gas futures contract advanced 7.4 cents day/day and settled at $2.340/MMBtu on Tuesday. August rose 7.1 cents to $2.407.

Texas Prices

At A Glance:

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

NGI’s Spot Gas National Avg. gained 4.5 cents to $1.965.

Weather conditions in northern markets this week remain relatively benign, with highs in the 70s and low 80s and a smattering of rain showers. But National Weather Service (NWS) data showed mounting – and spreading – heat across the South, from Texas to Southern...