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February gas futures shot up 22.4¢ Wednesday to $4.277 per million Btu on the eve of the contract's expiration. The move higher was reflected by the forward curve that saw the rest of the 2022 contracts rise between 11.2¢ to 14.2¢, possibly in reaction to more bullish storage optics. However, the December and January contracts saw strong rallies before rolling off the board only to see the new prompt month plunge on its first day in the lead position. The 12-month strip rose 12.8¢ to $4.185; the 2023 calendar strip rose 7.8¢ to $3.611 (Natural Gas Futures).

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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