Natural gas futures rallied for the first time this week, powering forward after a bullish government inventory report eased concerns about supply/demand imbalance. The October Nymex gas futures contract gained 6.9 cents day/day and settled at $2.579/MMBtu. November rose 1.5 cents to $2.958.

At A Glance:

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

NGI’s Spot Gas National Avg. followed suit, advancing 3.0 cents to $2.400.

On the futures front, the prompt month had eclipsed the $2.600 level much of Thursday’s session. It marked a sharp reversal from losses earlier in the week.

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