Natural gas futures rallied on Wednesday for a second consecutive session ahead of December options expiration. Robust demand for U.S. exports and a government inventory report that pointed to tightening balances helped propel prices higher.

Storage Report

At A Glance:

  • LNG feed gas volumes hold above 11 Bcf
  • EIA prints a 21 Bcf withdrawal from storage
  • Spot prices surge again in the Northeast

The December Nymex contract gained 10.1 cents day/day and settled at $5.068/MMBtu. January rose 7.9 cents to $5.114. The prompt month had jumped 17.8 cents a day earlier.

NGI’s Spot Gas National Avg. gained 11.5 cents to $4.945.

In observation of the Thanksgiving holiday, North American natural gas traded on Wednesday was for delivery Thursday through Monday (Nov. 29).

December contract options...