Natural gas futures forged higher on Tuesday, recovering much of the ground lost a day earlier, as markets shifted attention to European supply woes and expectations for robust demand for U.S. exports of liquefied natural gas (LNG) through winter. The December Nymex contract climbed 17.8 cents day/day and settled at $4.967/MMBtu. January gained 17.4 cents to $5.035. A day earlier, the prompt month dropped 27.6 cents amid domestic weather demand concerns.

Northeast prices

At A Glance:

  • Futures bounce back from 27.6-cent loss
  • European woes fuel LNG demand expectations
  • Cash prices drop in volatile Northeast markets

NGI’s Spot Gas National Avg., however, shed 42.5 cents to $4.830 as prices retreated in the volatile Northeast.

LNG feed gas volumes hovered close to 2021 highs above 11 Bcf...