Natural gas futures powered further ahead on Monday as summer demand held strong and global supply challenges festered. The August Nymex gas futures contract settled at $8.727, up 42.8 cents day/day. September gained 37.6 cents to $8.571.

natgas market graph

At A Glance:

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

The bull run followed a 36.7-cent prompt month advance on Friday.

NGI’s Spot Gas National Avg. climbed 19.5 cents on Monday to $8.580.

Bespoke Weather Services noted some cooler changes in weather forecasts over the weekend for the balance of July, given a break from above-average heat in the northern reaches of the central and eastern areas of the country. But widespread heat persists across most of the rest of the Lower 48, and this month...