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MTECHTIPS:-U.S. natural gas futures rebound on Northeast cold blast

U.S. natural gas futures rose for the first time in three sessions on Monday, as a cold blast hit the U.S. Northeast, boosting near-term demand expectations for the heating fuel. Natural gas for delivery in November on the New York Mercantile Exchange tacked on 2.8 cents, or 1.15%, to trade at $2.454 per million British thermal units during U.S. morning hours. On Friday, natural gas futures declined 2.3 cents, or 0.94%. Updated weather forecasting models showed that a cold front will impact the northern U.S. through October 21. Bullish speculators are betting on the cold weather boosting early-winter demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption. Gains were likely to remain limited as unseasonably warm readings will spread throughout most of the country next week. According to the Energy Information Administration, natural gas storage in the U.S. increased by 100 billion cubic feet last week, above expectations for an increase of 93 billion. Supplies rose by 105 billion cubic feet in the same week last year, while the five-year average change is an increase of 87 billion cubic feet.

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