• Natural gas futures stage huge comeback as weather models get even colder
  • EIA storage figure shows quickly evaporating storage surplus
  • Most U.S. cash markets recover, but Northeast prices crumble

Natural gas traders appeared to have a bit of sellers’ remorse on Thursday, quickly sending futures prices higher after an initial dip ahead of the latest government storage report.

EIA Storage Report

After slipping to a $2.734/MMBtu intraday low, the March Nymex futures contract settled Thursday at $2.935, up 14.6 cents on the day. April jumped 11.7 cents to $2.889.

Spot gas prices also moved higher across much of the United States, but the Northeast cratered from recent highs. NGI’s Spot Gas National Avg. plunged 29.5 cents to $3.250.

After Wednesday’s move into the red, market observers...