Weekly natural gas cash prices soared along with lofty temperatures and strong cooling demand throughout much of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the July 19-23 period jumped 16.5 cents to $3.780.

Hot high pressure created scorching conditions over much of the West and into the Plains, with highs of 90s and 100s throughout the week, boosting power needs and driving up prices.

As the trading week closed, SoCal Citygate in California was up 38.5 cents to $7.130, while in the Midwest, Alliance was ahead 22.0 cents to $3.720 and Consumers Energy was up 20.0 cents to $3.735.

Fueled by strong summer demand and expectations for more to come, the August Nymex contract rallied throughout the week as well and topped the $4.00 threshold for the first time since...