Global natural gas prices were climbing again on Monday, picking up from gains last Friday as hotter weather and supply issues have the market heading higher as the week gets underway.

Prices rebounded in Europe late last week after the European Commission unveiled a climate package aimed at cutting emissions and boosting renewables that had prompted a retreat. By Friday, benchmark Dutch futures were rising again, influenced by increasing liquefied natural gas (LNG) prices in Asia and supported by technical buying. Both the Title Transfer Facility and the National Balancing Point closed higher across the curve Monday. 

“Low storage levels, supply issues and continuous uncertainty regarding the Nord Stream 2 (NS2) project continue to support the market, with low wind power...