U.S. natural gas futures are holding onto the previous session’s gains made on a hotter near‑term weather outlook. 1006 ET – Traders note that expectations for stronger consumption in the coming weeks, along with a recovery in LNG feedgas demand, have helped offset an uptick in domestic production. The early trading session saw the contract stay near the $2.79 level, indicating modest upward momentum.

While the Midwest and Northeast will likely cool down in coming days, lingering heat across the south should support demand from power generators well into August, he adds. This pattern is typical when summer heat persists, keeping power plant consumption high.

Andy Huenefeld of Pinebrook Energy Advisors says in a note that the market is steady at $2.794/mm Btu. The note also highlighted that any further increase in production could pressure prices, but current supply-demand dynamics remain supportive.

Analysts expect the price to hold steady unless unexpected weather shifts or demand spikes occur later in the month. Investors will watch upcoming weather forecasts and LNG export data for further direction. Market participants remain cautious as the outlook remains uncertain.