Natural gas futures were soaring higher in early trading Monday after a bullish shift in forecasts over the weekend raised the prospect of upcoming cold reaching more populated areas of the eastern Lower 48. The March Nymex contract was up 19.5 cents to $2.759/MMBtu at around 8:45 a.m. ET.

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Over the weekend weather models increased demand expectations by showing upcoming cold temperatures traveling further east, Wood Mackenzie analyst Dan Spangler said in a note to clients early Monday.

Compared to Friday’s projections, the latest model runs added around 18 heating degree days to the outlook, with the increased demand “driven by the population heavy East and Midwest regions,” Spangler said. “The unseasonably cold weather is expected to arrive this weekend and stick around...