Weekly natural gas cash prices gained ground amid seasonally cool temperatures and corresponding heating needs in the Midwest and Northeast. Spot prices jumped early, climbing 14.0 cents on Monday and laying a strong foundation for the week ahead.

EIA storage April 30

Though prices lost momentum as the week wore on, NGI’s Weekly Spot Gas National Avg. for the May 3-7 period still closed up 3.5 cents to $2.735.

The June Nymex futures contract, meanwhile, settled at $2.958/MMBtu to close the trading week Friday, up 9% from the prior week’s finish.

Cool conditions moved in early during the covered week over the Upper Midwest and Plains before pushing east with lows in the 30s and 40s, galvanizing above average heating demand in key regions that rely on natural gas to power furnaces.

As the...