After sliding for much of the month, natural gas forwards rocketed higher during the Sept. 17-23 period as export demand steadily increased and on cooler changes to the long-range forecast. October prices jumped an average 17.0 cents during that time, while November launched 23.0 cents higher on average, according to NGI’s Forward Look.

Northwest Sumas price

Strong, double-digit gains extended throughout the winter months, with the full November-March strip averaging 14.0 cents higher amid projections for lower production and stronger demand in the Lower 48 and abroad. Summer prices also increased, but gains were small, as were those seen further out the forward curve.

The past week’s overall gains were impressive, especially when considering the path to achieving them.

“Why such irrational...