Natural gas futures forged ahead on Monday, building on the modest momentum gathered late last week after supportive government inventory data and price jumps in Europe. Following a 2.7-cent gain on Friday, the October Nymex gas futures contract settled at $2.639/MMBtu, up two-tenths of a cent to start the new week. November rose 2.7 cents to $2.906.

At A Glance:

  • Weather support weakens
  • Producers remain active
  • NGI models 88 Bcf injection

NGI’s Spot Gas National Avg. gained 17.5 cents to $2.170.

U.S. prices followed a rally in Europe, where the benchmark November Title Transfer Facility contract rose 7% on Monday as traders mulled ongoing global supply risks amid the war in Ukraine and declining domestic production on the continent.

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