Natural gas futures advanced for a second consecutive session on Monday, as traders mulled weather-driven demand potential, continued strong liquefied natural gas (LNG) volumes and the potential for light storage levels moving through the summer months.  

NGI's Storage Snapshot

The June Nymex contract advanced 3.5 cents day/day and settled at $2.966/MMBtu. July rose 3.6 cents to $3.014.

Spot gas prices jumped higher, led by strong gains in the Northeast. NGI’s Spot Gas National Avg. climbed 14.5 cents to $2.750.

Bespoke Weather Services said weather-driven demand expectations trended modestly higher over the weekend, with a mix of heating-degree days (HDD) and cooling-degree days (CDD).

“Cooling into the eastern half of the nation later this week gives HDDs a boost for a few days, but the...