Natural gas futures continued to climb early Friday amid signs of tightening underlying fundamentals following the latest government inventory data.

NGI Morning Natural Gas Price & Markets Coverage

After a furious 20.4-cent rally in the previous session, the November Nymex contract was up 4.9 cents to $3.215/MMBtu as of 8:40 a.m. ET.

Prices soared Thursday as the U.S. Energy Information Administration (EIA) reported an 86 Bcf injection into Lower 48 storage for the week ending Sept. 29. 

The print surprised to the tighter side of market expectations for a build in the 90s Bcf, sending analysts back to the drawing board to reassess their assumptions on balances. The latest injection figure also lagged both the 126 Bcf year-earlier build and the 103 Bcf five-year average.

Total Lower 48 working gas in underground storage...