Following a 56.6-cent gain to start the week, the October Nymex contract on Tuesday rose another 13.5 cents day/day and settled at $5.841/MMBtu before rolling off the board. November, which takes over as the prompt month on Wednesday, gained 14.9 cents to $5.880.

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At A Glance:

  • October contract spikes on expiry
  • Global tightness driving increased buying
  • Prices could fall as temperatures drop

NGI’s Spot Gas National Avg. spiked 32.0 cents to $5.415 on Tuesday. A day earlier, cash prices soared 50.0 cents.

NatGasWeather said Tuesday the major forecasting models still advertised a bearish pattern for the United States overall through mid-October – typical for this time of year. “We continue to look to the last 10 days of October for the first real threat of widespread...