The NYMEX July natural gas futures contract climbed 12.4 cents Monday to settle at $2.747/MMBtu, the highest price since it settled at $2.758/MMBtu on September 14, 2015. The July gas futures contract has rallied over the past several weeks, climbing about 36 cents since June 1. “Bullish weather is pushing demand higher and supporting the contract’s upward momentum, which is likely to continue on short covering and strong fundamentals,” said Kyle Cooper, principal analyst at IAF Advisors. The US National Weather Service’s eight- to 14-day forecast called for a high probability of above-normal temperatures across most of the country. The Southwest and Pacific Northwest are forecast to be very hot, more than 15 degrees Fahrenheit above normal, while the Northeast and Appalachia are expected to be around seasonal norms. The middle portion of the country is also forecast to be hotter than usual. Total demand is expected to increase […]