Natural Gas Rises on Cooling Long-Term Forecasts

-- Natural gas traded higher early Monday as long-term forecasts see cooler weather coming for most states, adding some unseasonal heating demand.

Gas for May delivery was last seen up $0.04 to US$2.72 per million British thermal units.

The rise comes as long-term forecasts from the National Weather Service see most states between the Rocky Mountains and the Mississippi River with cooler than seasonal temperatures over its six to 10 day outlook while near-term forecasts are also cool, adding some heating demand for the fuel.

"The weather data trended colder across the Midwest and Northeast going back to last week. This made the pattern not as bearish as national demand increases to seasonal April 25-May 2 and likely aided gains late last week and to open the new trading week," NatGasWeather noted.

Dutch Government Reportedly Unveils $1.1 Billion Energy Aid, Activates Crisis Plan Amid Supply Fears

The Dutch government announced a package of measures worth around 1 billion euros ($1.2 billion) to shield households and businesses from rising energy costs, while activating an emergency response plan amid growing concerns over global supply disruptions, media outlets reported on Monday.The measures include temporary tax relief for commuters, truck drivers and fishermen, as well as a higher tax-free travel allowance for employees. The package also provides targeted support for lower-income households, including about 195 million euros to help cover energy bills, and incentives for homeowners to reduce energy consumption.The government again declined to introduce broad fuel tax cuts, despite pressure from affected sectors.The move comes as the Netherlands braces for more economic fallout from the conflict in the Middle East. The closure of the Strait of Hormuz, a key route for oil and gas shipments, has driven up European energy prices and raised concerns about tighter supplies.Officials said there are no immediate fuel shortages, noting that European supplies of oil, diesel and jet fuel are sufficient to meet demand for up to a year. However, authorities warned they are preparing for a possible deterioration in the situation.The move marks the first time the four-stage plan has been triggered since it was developed during the energy crisis that followed Russia's invasion of Ukraine in 2022.Finance Minister Eelco Heinen reportedly said the government is taking into account the risk of further escalation and stands ready to introduce additional measures if needed.The Dutch government did not immediately respond to' request for comment.

Natural Gas Rises on Cooling Long-Term Forecasts

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