Natural gas prices spiked Monday alongside soaring temperatures and potential supply risks. The August Nymex gas futures contract jumped 39.2 cents day/day and settled at $6.426/MMBtu. September climbed 35.2 cents to $6.319.

texas gas price chart

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 73.0 cents to $6.785 amid widespread highs in the 90s and 100s to start the week.

More heat is on the way. NatGasWeather said data over the weekend held a “solidly hot and bullish pattern” between this coming weekend and July 24 “for strong to very strong national demand.”  

With temperatures expected to approach or exceed records across large swaths of the state, the Electric Reliability Council of Texas (ERCOT)...