Adds analyst quote and adds closing price

Aug 13 (Reuters) -U.S. natural gas futures fell more than 1% on Tuesday as investors booked profits, but losses were limited by hotter weather forecasts for next week that should boost demand for gas to generate electricity for air conditioning.

Front-month gas futures NGc1 for September delivery on the New York Mercantile Exchange fell 4.1 cents, or 1.9% lower, to settle at $2.15 per million British thermal units, the day after they rose to the highest in nearly three weeks.

"The market's coming back down and the key thing here is that the weather and the production cutbacks gave us a boost. But now the weather forecast is uncertain and the results of this week's inventory, whether we're gonna see withdrawal or not, is still up in the air. And so I think after the big run yesterday, people had a tendency to take profits," said Phil Flynn, an analyst at Price Futures Group.

Financial firm LSEG estimated 233 cooling degree days (CDDs) over the next two weeks, slightly higher from 228 CDDs estimated on Monday. The normal for this time of year is 187 CDDs.

With hotter than usual weather on the horizon, LSEG forecast average gas demand in the Lower 48 states, including exports, to rise from 105.7 billion cubic feet per day (bcfd) this week to 108.3 bcfd next week.

"The weather plays a big role in natural gas, short-term and long-term. And the weather has been a little on the warm side in most parts of the country," said Thomas Saal, senior vice president for energy at StoneX Financial.

LSEG said gas output in the Lower 48 U.S. states has fallen to an average of 102.7 billion cubic feet per day (bcfd) so far in August, down from 103.4 bcfd in July. That compares with a monthly record high of 105.5 bcfd in December 2023.

"I think the market right now is wrestling with a high level of inventory, which is on the bearish side. But the injections going into storage are on the low side, which is a little bit on the bullish side," Thomas Saal

The U.S. Energy Information Administration (EIA) said utilities added 21 billion cubic feet (bcf) of gas into storage during the week ended Aug. 2. That was lower than the 26-bcf build analysts forecast in a Reuters poll and compares with an injection of 25 bcf during the same week a year ago and a five-year (2019-2023) average increase of 38 bcf for this time of year. EIA/GASNGAS/POLL

Dutch and British gas prices fell on Tuesday morning, reversing the previous day's gains as gas flows from Russia to Europe via Ukraine remained stable despite reports of possible damage to infrastructure.NG/EU

Reporting by Sherin Elizabeth Varghese and Brijesh Patel in Bengaluru; Editing by David Gregorio

For gas data on LSEG's Eikon type ENERGY in the search bar and then go to the GAS drop down and the NORTH AMERICA drop down.

For Interactive Map, type 'Interactive Map' in the box at upper left of the Eikon terminal

For graphics on Baker Hughes rig counts, see: http://graphics.thomsonreuters.com/15/rigcount/index.html

For next-day SNL U.S. gas prices, see: 0#SNL-NG

For next-day SNL U.S. power prices, see: 0#SNL-PWR

For U.S. natgas price and storage polls, see: NGAS/POLL

For U.S. nuclear power outages, see: NUKE/

For U.S. Northwest hydro power report, see: NWRFC

For U.S./Canada natural gas rig count vs Henry Hub futures price, see: http://tmsnrt.rs/2eT9k44

For the U.S. natural gas speed guide, see: USGAS

For the U.S. power speed guide, see: USPOWER

To determine CFTC managed money net position add (NYMEX Henry Hub options and futures combined 3023651MNET) plus (ICE Henry Hub options and futures combined 3023391MNET divided by four) plus (NYMEX Henry Hub swaps options and futures combined 303565BMNET divided by four) plus (NYMEX Henry Hub penultimate gas swaps 303565CMNET divided by four)

NYMEX Henry Hub options and futures combined 0#3CFTC023651

NYMEX Henry Hub futures only 0#1CFTC023651

ICE Henry Hub options and futures combined 0#3CFTC023391

NYMEX Henry Hub swaps options and futures combined 0#3CFTC03565B

NYMEX Henry Hub Penultimate gas swaps 0#3CFTC03565C