Natural gas futures rebounded with vigor on Thursday, propelled by domestic and global supply challenges as the peak winter demand season looms.

Natural Gas Storage

At A Glance:

  • Futures spiked 17.1 cents
  • EIA prints 76 Bcf storage injection
  • Cash prices claw back into the green

The October Nymex contract shot up 17.1 cents day/day and settled at $4.976/MMBtu. November jumped 18.8 cents to $5.043.

A day earlier, the prompt month broke even, ending a four-day losing streak that was driven by forecasts for mild weather into early October.

NGI’s Spot Gas National Avg. gained 3.5 cents to $4.715.

Anemic production levels and below-average gas in storage, with only a few weeks before heating demand revs up, moved to the forefront of traders’ minds Thursday, sparking a new rally.

Only last...