"Natural gas prices soar as weather forecasts heat up"

Soar may be a bit much for a 3.64% move but in the words of George Takei: "Ohhh Myyy.
From Investing.com:

Natural gas prices soared on Monday after updated weather forecasts called for unseasonably mild summertime temperatures across the eastern U.S. to end and give way to a warming trend.

On the New York Mercantile Exchange, natural gas futures for delivery in September traded at USD3.348 per million British thermal units during U.S. afternoon trading, up 3.64%.

The September contract settled down 2.03% at USD3.230 per million British thermal units on Friday.

Forecasts for above-normal temperatures to return to portions of the northern and eastern U.S. through late August sent prices shooting up on Monday.

Demand for natural gas tends to rise amid heat waves, as homes and businesses throttle up  their air conditioners....MORE

And Platts an hour earlier:

NYMEX September gas settles up 8 cents on warm weather outlook

The NYMEX September natural gas futures contract posted a preliminary settlement Monday of $3.31/MMBtu, up 8 cents from its close on Friday, on forecasts calling for a hot end to August in the US' main consuming regions.

"The main driver is warmer-than-normal temperatures [forecast for] the last three to four days of the [month], which is inspiring some new buying," said Gelber & Associates analyst Aaron Calder.

The US National Weather Service's most recent six- to 10-day and eight- to 14-day outlooks call for above-average temperatures from the West Coast into the Northeast, with the Southeast likely to experience below-average conditions.

Calder added that the strength of the anticipated heat is not "all that impressive," but it is a "change from the status quo" of mild weather in the Northeast and Midwest.

The contract traded between $3.244/MMBtu and $3.361/MMBtu Monday.

The NYMEX settlement is considered preliminary and is subject to change until a final settlement is posted at 7 p.m. EDT (2300 GMT).

The Oh My is because, after 60 or so days on the short side we called it a trade on Thursday, reiterated on Friday and slept the sleep of the righteous. Sometimes you get lucky.

Previously:
Thurs Aug 8
Natural Gas: Today's 96 BCF Injections Would Have Been 82 BCF But For Reclassification
Fri Aug 9
"U.S. natgas futures edge up for 2nd day, weather limits upside"

Stardate 91215.48