Investing.com - U.S. natural gas futures rose for the sixth straight session on Tuesday, as forecasts for chilly temperatures across key consumption regions of the U.S. in the week ahead boosted demand expectations for the fuel.
Natural gas for delivery in November on the New York Mercantile Exchange tacked on 1.1 cents, or 0.45%, to trade at $2.546 per million British thermal units during U.S. morning hours.
A day earlier, natural gas futures rose to $2.559, the most since September 30, before ending at $2.535, up 3.3 cents, or 1.32%.
Heating demand for the fuel was likely to increase in the near-term after meteorologists predicted below-normal temperatures throughout the East Coast from October 17 to October 21.
According to the Energy Information Administration, natural gas storage in the U.S. increased by 95 billion cubic feet last week, compared to forecasts for a gain of 98 billion cubic feet.
Total U.S. natural gas storage stood at 3,633 bcf the EIA said. Stocks were 443 bcf higher than last year at this time and 155 bcf above the five-year average of 3,478 bcf for this time of year.
Elsewhere on the Nymex, crude oil for delivery in November inched up 31 cents, or 0.66%, to trade at $47.41 a barrel, while heating oil for November delivery shed 0.72% to trade at $1.491 per gallon.