-
US natgas prices jump 5% to 3-week high on higher demand forecasts
U.S. natural gas futures jumped about 5% to a three-week high on Monday on a continuing decline in output and forecasts for more demand next week than previously expected. That price increase occurred despite forecasts for less demand this week than previously expected, forecasts for mild weather through mid-April, ample amounts of gas in storage and reduced amounts of gas flowing to liquefied natural gas (LNG) export plants due to ongoing repairs at Freeport LNG’s export plant in Texas. Front-month gas futures for May delivery on the New York Mercantile Exchange were up 8.4 cents, or 4.8%, to $1.847 per million ... (full story)