Natural gas futures eked out another gain – the fourth in a row – on Monday as robust cooling demand in Texas and surrounding states supported prices. With increased gas flowing south of the border into Mexico as well, the June Nymex gas futures contract edged up 6.2 cents to $2.791/MMBtu.

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At A Glance:

  • Ercot loads set to surge to new highs
  • Maintenance still cutting into LNG
  • Storage trajectory bearish

Spot gas prices also bounced at the top of the week, with hefty gains seen in the regions expected to see the most searing temperatures. NGI’s Spot Gas National Avg. rose 42.0 cents to $2.640.

The large rise in cash prices – Henry Hub hit $2.615 – is not completely surprising given the convergence that typically occurs between Henry Hub cash and futures prices in the...