Natural Gas Prices Fluctuate Amid Mixed Forecasts and Heat Waves
Natural gas futures fell on Tuesday due to profit-taking after a strong rally last week, while concerns about ample storage supplies continued to weigh on the market. The July Nymex gas futures contract settled at $2.492/MMBtu, down 14.0 cents day/day. Cooling demand increased, and the falling rig counts were in focus. Meanwhile, NGI's Spot Gas National Avg. rose 20.5 cents to $2.180, extending gains made over the course of last week amid mounting demand.