Natural gas prices rose to a near eight-week high on Wednesday, as weather reports continue to show large patches of above-normal temperatures for the second half of July. Natural gas for August delivery gained 7.8 cents, or 2.8%, to $2.918 a million British thermal units on the New York Mercantile Exchange. It was the highest settlement since May 21. The summer heat is likely to result in more demand for gas-fired power to run air conditioners. Recent forecasts predicted above-normal temperatures spreading in the next two weeks across large parts of the country, especially in the Southeast. Forecasts from MDA Weather Services show the most heat, with temperatures 1 to 5 degrees Fahrenheit above normal for nearly the entire country from July 25-29. However, Wednesday’s rally was capped by concerns that the hot temperatures won’t be extreme and may not last long enough to outweigh near-record […]