NEW YORK: US natural gas futures rose almost 4% to a nearly two-week high on Monday on forecasts for colder weather and more heating demand over the next two weeks than previously expected.
In addition, traders noted gas prices around the world were trading at their highest in years, prompting buyers in Europe and Asia to buy more US liquefied natural gas (LNG). Front-month gas futures on the New York Mercantile Exchange (NYMEX) rose 9.6 cents, or 3.8%, to $2.635 per million British thermal units at 9:35 a.m. EST (1435 GMT), putting the contract on track for its highest close since Dec. 22.
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