Looming front-month expiration helped spark a massive surge in natural gas futures prices in early trading Monday. The expiring October Nymex contract was up 32.4 cents to $5.464/MMBtu at around 8:50 a.m. ET; November was up 32.8 cents to $5.528.

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At A Glance:

  • Futures surge a second straight day
  • Global supply challenges are in focus
  • Domestic weather demand tapers

Natural gas futures rallied for a second day on Friday as the potential for supply constraints outweighed mild autumn weather and modest near-term domestic demand. Impending front-month expiration also factored in, analysts said.

The October Nymex contract climbed 16.4 cents day/day and settled at $5.140/MMBtu. A day earlier, the prompt month advanced 17.1 cents. November gained 15.7 cents to $5.200 on...