Natural gas futures reached for the stars Friday, exploding higher for a second day as Hurricane Ida appeared to be steering clear of liquefied natural gas (LNG) export facilities as she churned toward the Gulf Coast. The Nymex September contract rolled off the board at $4.370, up 18.6 cents day/day and up 47.3 cents over the past two sessions. The October futures contract settled at $4.388, up 17.7 cents from Wednesday’s close.

Henry Hub

At A Glance:

  • GOM production shut-in
  • Storage jitters prevalent
  • Cash rallies on lingering heat

Spot gas prices also rallied across the Lower 48 even as temperatures were set to moderate in the coming days. NGI’s Spot Gas National Avg. climbed 12.5 cents to $4.285.

One day removed from the latest government storage report, traders appeared to be...