Aside from some nearer term discounts at elevated western hubs, Lower 48 natural gas forwards raced higher during the Oct. 5-11 trading period, riding a wave of bullish sentiment in Nymex futures and at benchmark Henry Hub, NGI’s Forward Look data show.

A bullish surprise from the U.S. Energy Information Administration’s (EIA) Oct. 5 natural gas storage report helped spark a furious rally for futures prices, sending the front month soaring past the psychological $3.000/MMBtu hurdle.

In turn, fixed prices at Henry Hub surged 41.5 cents for November delivery and ended the Oct. 5-11 period at $3.380, setting the pace for front-month fixed price gains of around 25-45 cents at most hubs throughout the Lower 48, according to Forward Look.

West’s November Premiums...