Weekly natural gas cash prices jumped on a surge in early-season heating demand brought on by frigid temperatures that reached deep into the bottom half of the country.

NGI’s Weekly Spot Gas National Avg. for the four-day Oct. 31-Nov. 3 trading period rose 41.0 cents to $2.800.

A cold shot of weather gave large portions of the Lower 48 its first good taste of winter and could lead to the season’s first withdrawal from gas in storage. Already, storage came in slightly tighter than expectations in the latest report. 

The U.S. Energy Information Administration (EIA) reported an injection of 79 Bcf for the week ended Oct. 27. Looking ahead to the next report, early estimates to Reuters range from a withdrawal of 21 Bcf to an injection of 79 Bcf.

Leading gainers on the week...