Natural gas futures gained on Thursday, supported by colder forecasts for next week and a government inventory report that showed supplies did not grow faster than expected.

At A Glance:

  • EIA reports 50 Bcf injection
  • Forecasts colder for next week
  • Production at 97.8 Bcf/d

Coming off two days of price volatility caused in part by an Alberta pipeline rupture that was isolated, the May Nymex contract gained overnight but relaxed off its early morning highs Thursday, settling up 4.5 cents day/day to $1.757/MMBtu.

NGI’s Spot Gas National Avg. gained 4.0 cents to $1.230.

NatGasWeather said this week’s mild temperatures and light national demand would give way to colder temperatures over the weekend and next week. Starting Friday, chilly air and storms were forecast to...