Investing.com - U.S. natural gas futures rose on Monday, after the latest U.S. weather model called for warmer temperatures over the next two weeks, which should increase cooling demand during that time.
Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring heating demand.
Gas use typically hits a seasonal low with spring's mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning.
Natural gas for delivery in July on the New York Mercantile Exchange jumped 4.1 cents, or 1.86%, to trade at $2.247 per million British thermal units by 14:10GMT, or 10:10AM ET.
Total U.S. natural gas storage stood at 2.754 trillion cubic feet, according to the U.S. Energy Information Administration, 28.8% higher than levels at this time a year ago and 28.9% above the five-year average for this time of year.
Unless intense summer heat boosts demand from power plants, stockpiles will test physical storage limits of 4.3 trillion cubic feet at the end of October.
Elsewhere on the Nymex, crude oil for delivery in June shed 32 cents, or 0.66%, to trade at $48.07 a barrel, while heating oil for June delivery dipped 0.44% to trade at $1.483 per gallon.