U.S. natural gas futures jumped almost 9% on Monday to a three-week high on forecasts for colder weather and higher heating demand over the next two weeks. Front-month gas futures rose 32.9 cents, or 8.8%, to settle at $4.060 per million British thermal units (mmBtu), their highest close since Dec. 3. The contract fell more than 6% on Thursday. “Reversal from last week’s profit taking is being driven by colder weather model runs,” Robert DiDona of Energy Ventures Analysis said. “Overall, the discussion will focus on the short-term weather forecast. Futures will be highly dependent on this cold weather pattern setting up for H1 January. If we get the cold air pushing into the L48, prices have a chance to rise. If not, we will see selling.” Data provider Refinitiv estimated 420 heating degree days (HDDs) over the next two weeks in the Lower 48 […]