Natural gas futures rallied on Wednesday, extending a week-to-date win streak amid advancing cold in the North, strengthening spot prices and solid LNG demand.

At A Glance:

  • Production off 2023 high
  • Colder northern weather
  • Light injection expected

The November Nymex gas futures contract gained 3.9 cents day/day and settled at $3.010/MMBtu. December rose 5.4 cents to $3.376.

NGI’s Spot Gas National Avg. gained 11.5 cents to $2.335, marking a third-straight gain.

Temperatures are likely to result in “very light” demand nationally into the weekend, NatGasWeather said. “However, a frosty system will stall over the Rockies and Northern Plains the next few days with rain, snow” and subfreezing low temperatures.

“This system will finally release and sweep across...