October Nymex natural gas (NGV26) on Thursday closed up +0.274 (+9.06%).
Nat-gas prices jumped to a 2.5-month nearest-futures high on Thursday and settled sharply higher after TC Energy’s Columbia Gas Transmission pipeline in Appalachia sent out a force majeure to customers due to an “unexpected mechanical issue,” prompting fund short covering in nat-gas futures. The estimated impact on firm transportation service from the outage is 1.8 bcf/day, about 1.6% of total US supply.