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FINWIRES

Natural Gas Rises as Forecasts See Hotter Weather Coming for Most States

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Natural gas rose early Monday as long-term forecasts see warmer than usual weather coming for much of the United States, offering a boost to cooling demand.

Gas for June delivery was last seen up $0.08 to US$2.83 per million British thermal units.

The rise comes as long-term forecasts from the National Weather Service see nearly all states with higher than seasonal temperatures over its six to 10 day forecast, raising the call on power for air conditioning.

Still, supplies remain high, with the Energy Information Administration last week reporting inventories of the fuel stood at 2.21-trillion cubic feet, 6.7% above the five-year average.

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