Natural-gas prices jumped to a five-week high Wednesday after a second day of gains on forecasts for a warm June. Prices for the front-month June contract settled up 11.4 cents, or 2.5%, to $4.619 a million British thermal units on the New York Mercantile Exchange. The June contract expired Wednesday. The more actively traded July contract settled up 10.4 cents, or 2.3%, to $4.615/mmBtu. Most forecasts, including from the National Weather Service, are showing strong chances for above-normal temperatures for the next two weeks. High temperatures lead to air conditioners switching on, driving more demand for power and gas. That has pushed the market up 4.9% in two days even as traders expect that drillers produced the year’s largest surplus last week. “I’m a little surprised with the” gains, said Gene McGillian, a broker and analyst at Tradition Energy. “The market is really showing its […]