Near-term heat boosts natural gas futures

Natural gas futures prices rebounded on increasing heat in the forecast for this week, as well as modest changes to the supply/demand balance. The September Nymex gas futures contract settled at $4.089, up 2.9 cents from Monday’s close. October picked up 2.8 cents to reach $4.103.

Spot gas prices also strengthened at most hubs, with the latest forecasts showing widespread highs in the 90s and low 100s across the United States. NGI’s Spot Gas National Avg. climbed 5.5 cents to $4.115.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.

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