09:26 AM EST, 11/11/2024 (MT Newswires) -- Natural gas was last seen up 7.5% on expectations cooler weather is on the way to boost heating demand, while production remains light.

Gas for December delivery was last seen up US$0.20 to US$2.87 per million British thermal units, the highest since Oct.7.

Long-term forecasts from the National Weather Service see much warmer than seasonal weather for states east of the Rocky Mountains over its six to 10 day outlook, though its eight to 14 day outlook sees temperatures cooling for Plains states and western Texas, though the eastern half of the country will remain warmer than usual.

Lower production is also offering a boost to prices. Data from S&P Global Platts supplied by the U.S. Natural Gas Supply Association said supply on Friday was at a week-low 106.3-billion cubic feet.