Natural-gas futures for September delivery on the New York Mercantile Exchange were recently trading down 1.6 cents, or 0.5%, at $3.198 a million British thermal units.
The Gulf Coast and northern Plains will see average temperatures instead of above-average heat in the next six to 10 days, according to Weather Service International Energycast. Forecasts are still calling for extreme heat in the Central U.S. in early August.
Futures soared 6.6% to a 2012 settlement high of $3.214/MMBtu Monday on expectations that continued scorching heat would boost demand for gas-fueled electricity to power air conditioners. However, with forecasts calling for more temperate weather in some parts of the country, prices are pulling back, analysts and traders said.For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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