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Natural Gas Futures, Spot Prices Find Fresh Footing as Forecasts Show Intense Heat - Natural Gas Intelligence

Natural Gas Intelligence · last updated

Natural Gas Futures, Spot Prices Find Fresh Footing as Forecasts Show Intense Heat - Natural Gas Intelligence

Natural gas futures forged ahead on Monday, bolstered by forecasts for peak summer heat and robust cooling demand. The August Nymex gas futures contract settled at $2.669/MMBtu, up 8.7 cents day/day. September rose 7.1 cents to $2.641.

At A Glance:

- Prompt month gains 8.7 cents
- Cooling demand set to mount
- Production recovers in July

NGI’s Spot Gas National Avg. gained 19.5 cents to $2.345.

Futures slumped throughout last week as production climbed back to record levels around 102 Bcf/d, according to Wood Mackenzie data. This followed the culmination of several maintenance events in June that had kept output estimates below 100 Bcf/d.

[ Want today’s Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

But...

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