• Slightly improved weather-driven demand and rising spot prices fueled gains
  • Production has generally held steady and near 2020 lows this month
  • Liquefied natural gas demand has proven strong for several weeks

Slightly improved weather-driven demand and rising spot prices fueled a second-straight day of gains for natural gas futures. The December Nymex contract gained 8.2 cents day/day and settled at $3.031/MMBtu on Wednesday. January advanced 7.8 cents to $3.151.

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NGI’s Spot Gas National Avg. climbed 13.5 cents to $2.585, a third consecutive day of gains.

Wednesday’s prompt month momentum built atop an increase of 9.0 cents the previous day after a blast of snow and cold moved into the Upper Midwest, and forecasts for the next few days shifted slightly cooler. Overall,...