Natural gas cash and futures prices started October on a positive note as robust export demand and strong power burns kept prices afloat even with a cooler turn of the weather. Due to the change of month, trading for the week only covered the Sept. 30-Oct. 1 period, where NGI’s Weekly Spot Gas National Avg. climbed 38.0 cents to $5.150/MMBtu.

EIA Storage Results

Nymex futures, meanwhile, struggled to disconnect themselves from global markets. Supply shortage fears were on full display this week in Asian and European markets, boosting prices to record levels. Despite an improving supply picture in the Lower 48, though, U.S. gas prices followed suit. The November contract spiked to an intraweek high of $6.318 but eventually slid to $5.619 at the end of the week.

As for the cash market, strong...