Flashes of colder temperatures to start the heating season, alongside characteristic volatility coinciding with the Nymex futures contract expiration, propelled natural gas forwards sharply higher during the Oct. 21-27 trading period, according to NGI’s Forward Look data.

Fixed price Henry Hub forwards for November rallied $1.087 to reach $6.220/MMBtu during the period, leading a wave of week/week fixed price gains of around $1 or more at numerous hubs from coast to coast. 

With the 15-day forecasts now stretching into the start of the traditional November-March heating season, the trading period saw weather begin to increase its influence on the market.

Signs of colder November temperatures arriving in the Lower 48, representing a major step-change higher for...