NEW YORK: US natural gas futures rose on Monday as forecasts predicted hotter weather over the coming weeks than previously expected, which is likely to boost demand for cooling.

Front-month gas futures gained 12 cents, or 3%, to $4.032 per million British thermal units by 10:34 a.m. EDT (1434 GMT).

“The market is looking ahead to what could be a very hot end to the summer with the cooling degree days likely to go up a little bit,” said Phil Flynn, senior analyst at Price Futures Group in Chicago.

Data provider Refinitiv projected US demand, including exports, will rise from an average of 91.2 bcfd this week to 95.2 bcfd next week. But that is still slightly below last week’s 95.7 bcfd.

Flynn also expects US LNG exports to stay “exceedingly” strong and US supply to remain weak, leading to a tight market this year, which should support prices.