After trading sideways for the better part of Wednesday’s session, natural gas futures surged in the last half hour as the tight global supply backdrop provided bulls the justification for another rally. The November Nymex gas futures contract settled at $5.170/MMBtu, up 8.2 cents on the day. December edged up 9.7 cents to $5.447.

storage

At A Glance:

  • BREAKING: U.S. EIA reported a 92 Bcf injection into natural gas storage for the week ending Oct. 15, coming in slightly above consensus but within the range of expectations
  • November picks up another 8 cents
  • Cash recovers on chilly blasts

Spot gas prices, meanwhile, recovered as multiple weather systems swept across the country, temporarily boosting demand in some regions. NGI’s Spot Gas National Avg. jumped 13.0 cents to...