Natural gas futures on Tuesday rallied with vigor amid continued strength in U.S. exports of liquefied natural gas (LNG) and renewed concerns about European supplies that sent global gas prices higher.

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At A Glance:

  • Futures surge for a second straight day
  • Russian supplies to Europe called into question
  • Spot prices jump on storms in West

The December Nymex contract jumped 16.0 cents day/day and settled at $5.177/MMBtu. A day earlier, the prompt month posted a 22.6-cent gain. January advanced 16.6 cents to $5.270 on Tuesday.

NGI’s Spot Gas National Avg. climbed 36.5 cents to $5.030, led higher by price surges in the West.

Dutch Title Transfer Facility prices, already hovering near record levels most of the fall, climbed further Tuesday after a German regulator suspended...