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Natural Gas Bulls Romp in Bidweek Trading as Demand, July Heat Fuel Price Rally A weather outlook signaling sustained robust cooling demand during the month of July helped send natural gas prices soaring in bidweek trading. In parallel with steep gains in the futures market, NGI’s July Bidweek National Avg. surged 72.5 cents higher month/month to $3.550/MMBtu. The bullish bidweek prices this summer stand in sharp contrast to the year-ago period, when pandemic concerns hampered the demand outlook. In a clear example of the difference a year can make, the July 2020 Bidweek National Avg. came in at only $1.450. The massive $2-plus year/year increase in bidweek prices on average reflects a market feeling the heat this summer as cooling demand has competed for the available supply. It has helped to keep stockpiles below the five-year norm so far this injection season.

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