Steady calls for U.S. exports and global supply worries outshined a robust government inventory print and forecasts for light domestic demand, sending natural gas futures higher on Thursday. The November Nymex contract, a day after shedding 40.3 cents in its debut as the front month, recovered ground and advanced 39.0 cents day/day to settle at $5.867/MMBtu. December rose 39.6 cents to $5.991.

EIA Storage Results

At A Glance:

  • The prompt month jumps 39 cents
  • Supply concerns intensify in Europe
  • Domestic demand begins to ease

NGI’s Spot Gas National Avg. ticked down a half-cent to $5.250.

A tight global market — the result of extreme weather in 2021 as well as both modest production and maintenance catch-up work in the pandemic’s wake — has fueled multiple futures rallies this month alone. The...