As a milder weather forecast was released, the July contract closed down 7.7 cents, rolling off the board at $2.773 per MMBtu. The August contract was more widely traded and settled down 9.6 cents, to move into the prompt position at $2.770 per MMBtu. Natural gas continues to be range bound, essentially trading between $2.443 per MMBtu and $3.105 per MMBtu. Production remains strong, but when warmer weather forecasts are released, the market experiences an uptick in pricing to account for increased cooling and generation demand. Without sustained exceptional weather, however, the bulls are having a difficult time rallying this market and natural gas appears poised to continue trading within this range in the near-term. The CY2015 NYMEX settlement is now averaging $2.806 per MMBtu and JCB Energy recently released their forecast that Henry Hub prices would average $2.88 per MMBtu this year, due to abundant supply.