Natural gas futures seesawed within a narrow range of gains and losses Friday, as traders weighed strong near-term cooling demand against light LNG volumes and abundant supplies. The August Nymex gas futures contract ultimately settled at $2.539/MMBtu, down six-tenths of a cent day/day. September shed four-tenths of a cent to $2.530.

West Texas Prices

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

NGI’s Spot Gas National Avg. advanced 6.0 cents to $2.480, supported by pockets of robust heat.

NatGasWeather said Friday that forecasts continued to show “strong to very strong national demand” in the second half of July and to start August. This will be bolstered by “the East Coast warming into the upper 80s to mid-90s, while California to Texas...