Natural gas prices rose Monday on a slightly warmer temperature forecast, but continued cooler-than-normal temperatures across much of the country kept the price gains subdued. August futures settled up 3.5 cents, or 1.3%, at $2.805 a million British thermal units on the New York Mercantile Exchange. Hot weather boosts natural-gas demand in the summer as households and offices use more gas-fired electricity to power air conditioners. This summer, robust production has pushed the market into oversupply. A widely followed forecast released Monday called for hotter weather in the next two weeks than previously expected, boosting prices, said Gelber & Associates in a note. However, the firm added, other forecasting models are predicting that cooler temperatures will persist. Natural-gas inventories grew less than expected in the week ended June 19, according to the U.S. Energy Information Administration. Some analysts expect that trend to continue, reducing the […]