September natural gas futures rocketed higher Thursday, buoyed by a shockingly tight government storage print and a rebound in liquefied natural gas (LNG) demand. The prompt month hit a $4.193/MMBtu intraday higher and went on to settle at $4.184, up 28.7 cents from Wednesday’s close. The October contract jumped 28.6 cents to $4.211.

EIA storage Aug 26

At A Glance:

  • EIA data reignites storage worries
  • Storm system heading toward Gulf Coast
  • Heat seen moderating next week

Spot gas prices also were mostly higher, except on the East Coast. NGI’s Spot Gas National Avg. climbed 1.0 cents to $4.160.

After two days of small day/day price changes, Thursday’s storage data set off some fireworks along the Nymex futures curve. The Energy Information Administration (EIA) reported a 29 Bcf injection for...