RE:Record Heat Wave = Increased Nat Gas Consumption One can not make broad assumptions about nat gas based upon one certain geographical area. Not all areas of the country use natural gas equally. The New England area for example surprisingly does not use much natural gas.
Also the heat you refer to is mainly in the Northeast. I live in the Deep South and it has been relatively heat subdued here. My air bill is about 40 % less than normal for this time of year.
In deed the latest forecasts and nat gas price trends are downwards. See below story.
There are a lot of moving pieces to nat gas prices and one must be careful to look at them all and in totally before drawing a general conclusion.
https://oilprice.com/Latest-Energy-News/World-News/US-Natural-Gas-Prices-Fall-As-Colder-Weather-Approaches.html
Ps
I have increased my short position in nat gas futures as inventory is rapidly building due to declining usage and production increasing.