December Natural Gas futures rallied to a high not seen since June.

December Natural Gas futures continued their rally, now up almost 30% from the cycle low on October 17th, reaching the highest price level since June 17th. With official US Energy Information Administration (EIA) data unavailable, estimates from Bloomberg NEF reported robust natural gas production in the US lower 48 states, which significantly outpaced both domestic demand and liquefied natural gas (LNG) exports. Production reached 110.8 billion cubic feet per day, a 10.4% increase year over year. Domestic demand stood at 86.9 billion cubic feet per day, up 6.1% year over year, while estimated flows into US LNG export terminals were 17.8 billion cubic feet per day, a 5.1% rise week over week. Low overall national demand is expected through Sunday, followed by moderate demand early next week across the northern half of the US as temperatures turn mild.