Natural gas futures on Wednesday gained ground for the first time in five sessions as global supply doubts personified by Russia’s president and his threat of launching nuclear weapons overshadowed fading demand.

At A Glance:

  • Russia to ramp up Ukraine war effort
  • Analysts look for 90s Bcf injection
  • Forecasts call for cooler conditions

The October Nymex gas futures contract settled at $7.779/MMBtu, up 6.2 cents day/day. November gained 5.5 cents to $7.827.

NGI’s Spot Gas National Avg., however, slid 19.5 cents lower to $6.840 as cooler temperatures settled into the Lower 48.

Before U.S. markets opened, Russian President Vladimir Putin announced plans to call up reserves and deploy hundreds of thousands of soldiers to support the Kremlin’s invasion of Ukraine –...