Natural gas futures on Tuesday gained ground for the first time in four sessions as overseas supply shortages converged with forecasts for colder weather and stronger domestic demand by mid-November. The December Nymex contract gained 35.6 cents day/day and settled at $5.542/MMBtu. January rose 33.5 cents to $5.640.  

Forward Basis Curves Northeast

At A Glance:

  • Weather forecasts shift bullish
  • Overseas supply woes fester
  • Cash prices jump in Northeast

NGI’s Spot Gas National Avg. gained 29.0 cents to $5.310, led higher by prices in the Northeast, where winter cold and snow are expected this week, as well as gains in Texas.

While temperatures were seasonally comfortable over much of the Lower 48 Tuesday and expected to remain so for much of the week, updated forecasts called for more widespread chills near...