Heat Wave Boosts Natural Gas Futures Amid Large Supply

Natural gas futures made a comeback on Friday as intense heat across much of the country overshadowed a large supply that had weighed down the market in the previous session.

The intense heat wave, particularly in Texas and the West, led to increased demand for natural gas, which helped to boost prices. According to data, weekly production topped 112 Bcf/d, while supply in storage was 6.2% above norms.

Despite this, demand remained solid but off from recent highs, providing a stable foundation for prices. The NYMEX futures contract for natural gas bounced back on Friday, giving traders and investors some relief after the previous session's decline.