Natural-gas futures erased their morning losses Tuesday to trade higher after a midday weather forecast showed hotter temperatures than previously expected. Natural gas for August delivery recently traded up 1.2 cent, or 0.4%, to $2.817 a million British thermal units on the New York Mercantile Exchange, up from as low as $2.752/mmBtu earlier in the session. Forecasts for colder-than-normal weather in the next two weeks have weighed on natural-gas prices. Cool weather in the summer reduces demand for gas-powered electricity to run air-conditioning units. The most widely watched U.S. government forecast had been calling for a “cooler trough of air” extending from Ontario to the Southeast U.S. in the next two weeks, but a midday update now shows that trough moving further east, said Aaron Calder, analyst at Gelber & Associates in Houston. The new forecast “looks very warm,” he said, though he […]