• One day after posting largest single-day gain in the last year and a half, natural gas futures moved another leg higher Tuesday
  • Spot gas prices remained upward bound too

One day after posting the largest single-day gain in the last year and a half, natural gas futures moved another leg higher, surging past the long-term high established earlier this year. September Nymex gas settled Tuesday at $2.193, up 9.2 cents from Monday’s close. October rose 9.5 cents to $2.334.

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Spot gas prices also continued to rally across most of the Lower 48, boosting NGI’s Spot Gas National Avg. by 13.0 cents to $1.920.

After Monday’s explosive move higher at the front of the Nymex futures strip, analysts questioned whether the rally had staying power.

On one hand, stronger gas pricing...