Prompt Month Natural Gas Futures Gain After Four Weeks of Declines

Natural gas futures saw their first weekly gain since June 18, bucking the downward trend seen in August's contracts. Prompt month natural gas futures managed to end the week on a positive note, rising after four weeks of declines.

The contrast between prompt month and November-March contracts is stark, with the latter seeing double-digit gains. This shift suggests that market participants are looking past injection season and focusing on future demand.

Forecasts indicate 'hotter than normal' temperatures, which could support higher prices for natural gas in the coming weeks. However, the market remains well-supplied, which may temper price growth.