The continuation of moderate weather ahead of what is expected to be a record-breaking summer did little to stop spot gas price gains during the week of May 17-21. NGI’s Weekly Spot Gas National Avg. climbed 5.5 cents to $2.745.

June Nymex futures, meanwhile, blew past $3.00 early in the period as weather models teased at intense heat arriving in the coming days. However, a quick retreat in the amount of projected demand sapped momentum, while the latest storage data sealed its fate. The June contract closed the week at $2.906, off 20.3 cents from Monday’s close.

The gains in the spot gas market occurred even as widespread heat failed to materialize across the United States. Even in Texas, where conditions are typically hot and humid by this time of year, heavy rains...