The NYMEX September natural gas futures contract settled 5.1 cents higher on Wednesday at $2.826/MMBtu on weather and storage expectations.
Phil Flynn, a senior market analyst with Price Futures Group, said that hot weather expected in the US Northeast and Midwest later this month as well as Thursday's storage report both offered the contract some support.
"People don't want to be short ahead of the inventory," Flynn said.
The US Energy Information Administration Thursday will estimate a build to natural gas storage stocks of 36-40 Bcf for the week ended Friday, according to a consensus view of industry analysts.
EIA reported a 66-Bcf injection in the same week of 2011, with the five-year-average injection at 53 Bcf.
Flynn said prices were seeing "a little, but not much" support from the potential impact of Tropical Storm Isaac.
The contract traded between $2.772/MMBtu and $2.857/MMBtu.
