Natural gas futures prices flew higher once again on Thursday, rallying a fourth consecutive day on cold weather and mounting demand that pointed to steep storage withdrawals following what analysts expect was the last reported injection of the year.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The December Nymex natural gas futures contract settled at $6.369/MMBtu, up 16.9 cents day/day. January climbed 13.7 cents to $6.744.

NGI’s Spot Gas National Avg. followed suit, gaining 38.5 cents to $6.545.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 64 Bcf natural gas into storage for the week ended Nov. 11. It far exceeded historic norms but most likely marked the final increase of 2022...