Natural gas prices followed a massive rally with another solid surge on Friday, riding high on winter weather forecasts, light production, falling stockpiles and robust demand for U.S. exports. The March Nymex gas futures contract jumped 35.6 cents day/day to $4.639/MMBtu and finished its first session as the prompt month on firm footing. April rose 26.6 cents to $4.473.

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At A Glance:

  • Friday’s surge follows ‘epic’ short squeeze
  • Futures advance a seventh straight day
  • Cash cruises higher ahead of Nor’easter

NGI’s Spot Gas National Avg. gained $1.395 to $7.710 on Friday amid expectations for a fierce winter storm to blanket the East Coast over the weekend with heavy snowfall and frigid air.

Friday’s gain marked seven consecutive sessions of prompt-month futures...