Natural gas futures on Thursday rallied for a fourth consecutive session, bolstered by a bullish storage print that came on the heels of hotter weather and lower production. The July Nymex gas futures contract settled at $2.533/MMBtu, up 19.1 cents day/day. August jumped 19.6 cents to $2.609.

At A Glance:

  • EIA prints 84 Bcf injection
  • Production remains low
  • Widespread heat looms

NGI’s Spot Gas National Avg. rose 1.0 cent to $1.985.

Futures and cash markets have gained ground every session this week.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 84 Bcf natural gas into storage for the week ended June 9. The net result fell well shy of expectations and lit a fuse beneath already momentous futures trading.

“It’s a result that...