Natural gas futures rallied for a fifth straight session Monday, powered by a tightening domestic market and global supply worries spawned by threats of an LNG worker strike and the sudden eruption of war in the Middle East, a key energy producing region.

At A Glance:

  • Front month gains 3.8 cents
  • Global supply threats intensify
  • NGI estimates 77 Bcf injection

The November Nymex gas futures contract settled at $3.376/MMBtu, up 3.8 cents day/day. The prompt month advanced nearly 40 cents over the previous two sessions alone and gained 14% last week. Gas traded for delivery in the winter months, however, declined slightly on Monday.

NGI’s Spot Gas National Avg. gained 6.5 cents to $2.490. Cash prices also jumped last week, with NGI’s Weekly Spot Gas National Avg. for the Oct....