US Natural Gas Contracts Rise to Highest Level in 7 Weeks, Supported by Record Exports

US natural gas futures rose more than 2% to their highest level in seven weeks on Monday, as exports continued to hit record highs while production declined slightly.

The increase in prices came despite forecasts of milder weather, and demand for heating until mid-May is lower than previously expected.

Gas contracts rose to the nearest maturity of six cents, or 2.2%, to settle at $2.790 per million British thermal units, the highest closing level since the third of March.