Persistent production weakness, blistering domestic heat and robust demand for U.S. LNG converged on Wednesday to ignite a fresh natural futures rally. The August Nymex contract climbed 52.6 cents day/day to close at $6.689/MMBtu. September rose 56.8 cents to $6.589.

At A Glance:

  • BREAKING: U.S. EIA on Thursday reported an injection of 58 Bcf natural gas into storage for the week ended July 8
  • Stifling heat persists across U.S.
  • Cash prices continue to advance

NGI’s Spot Gas National Avg. failed to follow suit, however. It fell 19.0 cents to $6.630 as prices in the South and West pulled back following outsized gains earlier in the week.

Amid a spate of maintenance-related interruptions, production dipped below 94 Bcf on Tuesday – from recent highs near 96 Bcf – and...