• Solid LNG demand sparks big turnaround for expiring January Nymex contract
  • Weather still bearish through mid-January
  • Chilly weather systems boost some cash markets

On a day of heightened volatility, the January Nymex natural gas futures contract rebounded sharply ahead of expiration as robust liquefied natural gas (LNG) demand took center stage. Though a full recovery from Monday’s steep sell-off proved difficult, the January contract expired a whopping 16.2 cents higher at $2.467. The February contract, which takes over the prompt position on Wednesday, jumped 11.8 cents to $2.444.

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Spot gas prices were mixed, but several locations across the country posted double-digit gains. NGI’s Spot Gas National Avg. ultimately slipped 1.0 cent to $2.525.

Whether Tuesday’s swift...