Natural gas futures fluctuated again Friday but ultimately forged ahead as weather forecasts pointed to above-average cooling demand in August. The September Nymex gas futures contract gained 9.5 cents day/day and settled at $8.229/MMBtu. It had shed 42.0 cents in its debut as the prompt month a day earlier, when price swings also defined trading.

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At A Glance:

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

The October futures contract rose 9.0 cents to $8.208 on Friday.

NGI’s Spot Gas National Avg. ticked up 3.5 cents to $8.330, with notable gains in the West.

Bespoke Weather Services said domestic demand was projected to ease modestly over the final weekend of July with moderating northern temperatures. Still, demand was expected to...