Natural gas futures broke through $6.000/MMBtu for the second time this week as U.S. production took a notable step down on Tuesday at the same time global supply concerns roiled the domestic market. The November Nymex gas futures contract surged 54.6 cents to settle at $6.312. December gas finished at $6.432, up 52.6 cents on the day.

Forward Fixed Price Curve

At A Glance:

  • Global factors at play in latest U.S. gas price rally
  • Power burns still strong as coal exhausted
  • Cash prices soar on curbed production

Spot gas prices also continued to mount hefty increases despite a generally mild weather pattern in place across the country. Stubbornly strong power burns lifted NGI’s Spot Gas National Avg. up another 32.0 cents Tuesday to $5.970.

Though the domestic supply picture has vastly improved over the...