After closing lower every day last week natural gas prices ended the streak of down days today, with the prompt month August contract moving around 6 cents higher on the day.
Hotter weather trends were the primary reason for the move higher.
Indeed, after tagging our 2.25 target in Friday's session, buyers stepped back into the market after weekend weather models revealed that cooler weather would be confined to the current week, with above normal temperatures becoming more widespread again to end July and start the month of August.
This gives us just a handful of days that are projected to be below normal in terms of weather demand (GWDDs).
In terms of forecast changes, here is the change in GWDDs compared to the forecast back on Friday:
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