Natural gas futures rallied again Thursday, gaining ground a fourth time this week as government inventory data signaled that gradually emerging heating demand and stronger LNG volumes are offsetting robust production – with winter looming.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The November Nymex gas futures contract spiked 20.4 cents day/day and settled at $3.214/MMBtu. December, which takes over as the front month next week, gained 10.1 cents to $3.477.

NGI’s Spot Gas National Avg. rose 12.5 cents to $2.460. The cash market has advanced each session this week, led higher by outsized gains in the Rockies.

[Get Better Intel: Where are natural gas prices in Canada heading in the next few years? NGI’s Forward...