Natural gas forward curves blew up for a fourth consecutive week as lingering production outages continued to perpetuate supply concerns ahead of the peak winter season. October forward prices rallied by an average 47.0 cents, and November shot up 54.0 cents on average, according to NGI’s Forward Look.

Gains were even more stout further out the curve as the potential for record liquefied natural gas (LNG) exports and a concurrent hike in domestic gas consumption in the winter sparked fears of a supply shortage. The winter strip (November-March) averaged 61.0 cents higher for the trading period ending Sept. 15, while the summer 2022 strip (April-October) picked up only 8.0 cents on average.

Forward prices have staged a meteoric rally in the past month. After struggling to reach...