MTECHTIPS:-U.S. natural gas futures edge higher to start the week

MTECHTIPS:-U.S. natural gas futures edge higher to start the week

MTECHTIPS-U.S. natural gas futures edged higher on Monday, starting the week with gains after the latest U.S. weather model called for warm temperatures over the next two weeks, which should increase cooling demand during that time. U.S. natural gas for July delivery was at $3.078 per million British thermal units by 9:15 AM ET (1315 GMT), up 4.0 cents, or around 1.3%. Prices of the fuel rose on Friday to notch a second-straight gain and log an increase of 1.3% for the week. Warm to hot conditions will dominate the eastern half of the U.S. through June 17, as strong high pressure continues to spread. Over the West, an unseasonably cold weather systems will bring heavy showers, including high elevation snowfall. Late in the week, modest cooling will spill across the Northwest and Northeast, while the rest of the country remains very warm to hot. 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.
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