U.S. natural gas futures gained about 3% on Monday on forecasts for colder weather and higher heating demand over the next two weeks than previously expected.
Energy traders said another factor supporting prices was the continued drop in U.S. output after gas prices collapsed to a 3-1/2-year low in February.
Front-month gas futures NGc1 for April delivery on the New York Mercantile Exchange rose 4.8 cents, or 2.9%, to settle at $1.703 per million British thermal units (mmBtu). On Friday, the contract closed at its lowest since Feb. 27.
Diversified Energy Company plc (LON:DEC) is an independent energy company engaged in the production, marketing, transportation and retirement of primarily natural gas and natural gas liquids related to its U.S. onshore upstream and midstream assets.
