09:27 AM EDT, 03/12/2024 (MT Newswires) -- Natural gas price rose early on Tuesday as forecasts see some cooler weather on the way, raising heating demand for the fuel.

Gas for April delivery was last seen up US$0.06 to US$1.82 per million British thermal units.

Long-term forecasts from the National Weather Service see most states east of the Rocky Mountains with seasonal or cooler temperatures over the next six to 14 days, adding potential heating demand as inventories remain swollen due to a mostly mild winter.

"To the bullish side remains lighter US production and a tighter S/D balance. However, favorable weather patterns are also needed and that's been the issue the past 6-weeks as warmer vs normal temperatures have ruled vast stretches of the US most days. As a result, surpluses will increase to a massive +650-700 Bcf after the next few EIA reports are accounted for," NatGasWeather noted.