Natural gas futures strengthened midweek as the ramp-up of full operations at a key export facility combined with the potential for March cold to support the market. With technical trading likely aiding the rally, the March Nymex gas futures contract settled Wednesday at $2.174/MMBtu, up 10.1 cents on the day. April futures climbed 12.1 cents to $2.298.

At A Glance:

  • Small storage draw expected
  • March cold possible, but uncertain
  • Pipes prepare for frigid temps

Spot natural gas prices were higher as well, with stout gains on the East Coast and Rockies. NGI’s Spot Gas National Avg. tacked on 34.5 cents to $3.055.

With a month and some change left to go in the official natural gas winter heating season, and only a handful of cold days in the near term, traders continue to look...