• The U.S. Energy Information Administration reported an injection of 66 Bcf
  • The result was lower than expected and helped sustain a rally
  • LNG volumes ticked back up to 6.0 Bcf

Natural gas futures soared for a second consecutive day on Thursday after a light storage build provided a positive surprise and liquified natural gas (LNG) levels further recovered from interruptions imposed by a furious storm season in the Gulf of Mexico (GOM).

storage

The October Nymex contract jumped 12.3 cents day/day and settled at $2.248/MMBtu. A day earlier the prompt month spiked nearly 30 cents on favorable weather shifts and early signs of LNG improvement.

November advanced 10.5 cents to $2.899 as traders continued to bet on winter-driven demand supporting prices.

Spot gas prices also advanced....