Natural gas futures forged higher on Friday, bolstered by elevated LNG exports and momentum from this week’s cold shot that may have been enough to trigger the season’s first withdrawal. The December Nymex gas futures contract rose 4.3 cents day/day to settle at $3.515/MMBtu. January rose 4.5 cents to $3.795.

At A Glance:

  • December contract gains 4.3 cents
  • Production exceeds 104 Bcf/d
  • LNG exports stay at high level

In contrast, spot gas prices fell for a fourth session as temperatures are expected to swing 25-50 degrees higher into the weekend, cutting short the surge in heating demand for the Lower 48 from its first significant brush with winter cold this week.

NGI’s Spot Gas National Avg. fell 37.0 cents to $2.300.

A high pressure system was forecast to bring...