Natural gas futures flew higher on Monday, bolstered by forecasts for substantially colder weather and stronger heating demand. The December Nymex contract gained 54.4 cents day/day to settle at $6.944/MMBtu, adding to a 42.5 cent rally in Friday’s session. January climbed 49.0 cents to $7.244.

At A Glance:

  • Forecasts add ‘hefty’ dose of demand
  • Potential hurricane approaches Florida
  • Storage deficits expected to narrow

While volatile in recent trading, the prompt month hit a three-week high on Monday.

NGI’s Spot Gas National Avg. followed suit, spiking $1.570 to $4.180 to start the week.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

Weather data trended much chillier over the...