Natural gas prices gave up early gains Wednesday as weather forecasts turned cooler, limiting demand expectations. Natural gas use rises in summer when households and offices use more electricity to power air-conditioning units. Forecasts released Wednesday morning called for hotter weather in Texas and the Southern U.S. than previously expected, boosting prices. But closely watched midday updates to the forecast were less bullish, said Aaron Calder, analyst at Gelber & Associates in Houston. “Noon updates took some heat out of the forecasts,” Mr. Calder said in a note. Futures for September delivery settled down 1.4 cents, or 0.5%, at $2.798 a million British thermal units on the New York Mercantile Exchange. Robust production has outweighed demand this summer, leaving natural-gas stockpiles at a surplus to the five-year average. Inventory data for the week ended July 31 is due Thursday, and analysts surveyed by The Wall […]