Updated Aug 22, 2024
8/22/24
With widespread and intensifying heat gripping the Lower 48, natural gas futures advanced early Friday but could not hold gains into afternoon trading. Spot prices dropped.
Weekly natural gas cash prices retreated amid seasonally mild temperatures in key sections of the Lower 48 and strong national production.
Natural gas futures on Friday floundered for the fourth time in as many sessions, as supplies in storage remained on course to culminate the injection season at historically robust levels in spite of a hot summer.
Natural gas futures were gaining back a modest chunk of their pre-holiday losses through midday trading Tuesday, supported by warm-leaning forecasts and strengthening export demand.