A step down in production drove natural gas futures prices higher for a second day, with gains accelerating after the latest weather models turned even hotter for next week. The September Nymex gas futures contract settled Tuesday at $4.027, up 9.2 cents on the day. October climbed 9.4 cents to $4.032.

Coronavirus vaccines

At A Glance:

  • TGP restrictions impacting production
  • Upcoming heat seen more intense
  • Covid Delta variant not yet causing concern

Spot gas prices were mostly higher, but there were small decreases in the Midwest and part of the western United States. NGI’s Spot Gas National Avg. climbed 8.5 cents to $4.000.

With summer heat nearing what traditionally is the peak period this month, weather forecasts have once again become a driving force for gas markets. Weather models early...