Massive intraday swings continued midweek for natural gas futures, which closed higher once the dust settled. The November Nymex contract moved in a more than 20-cent range before finishing the day at $2.606, up 8.6 cents from Tuesday’s close. December picked up 5.3 cents to reach $3.149.

After solid increases the past two sessions, spot gas prices started to retreat a bit Wednesday. Losses were small outside of the West, and some markets continued to climb. NGI’s Spot Gas National Avg. ultimately dropped 8.0 cents to $1.660.

Despite the low price environment, there’s been no shortage of volatility in the futures market the past couple of months. Suppressed demand because of the Covid-19 pandemic and the typical seasonal lull in power burns have led to a much...