Mirroring the recent bullish summer run for Henry Hub futures, natural gas forwards rose from coast-to-coast during the June 17-23 trading period. Indications of a tight supply/demand balance, coupled with an overall bullish temperature outlook, saw natural gas prices maintain their upward momentum.

Spurred by a bullish surprise in the latest Energy Information Administration (EIA) storage report, July Nymex futures surged 8.5 cents higher to $3.418/MMBtu, advancing for a third straight session.

Accordingly, Henry Hub July fixed prices added 8.2 cents from June 17-23 to average $3.338 in NGI’s Forward Look dataset. That set the stage for another round of widespread gains for hubs throughout the Lower 48.

Amid the run higher in Nymex prices this week, ICAP Technical Analysis...