Front-month gas futures for October delivery leapt as much as 10% to $5.010 per million British thermal units (mmBtu), their highest since February 2014
Traders noted that that small price decline came ahead of a federal report expected to show last week's storage build was in line with normal levels for this time of year.
Front-month gas futures fell 3.3 cents, or 1.1%, to $3.042 per million British thermal units.
On its first day as the front-month, gas futures for July delivery fell 2.9 cents, or 1.0%, from where the July contract closed on Wednesday to $2.998 per million British thermal units.
US pipeline exports to Mexico, meanwhile, averaged 6.0 bcfd so far in May, just off April's monthly record of 6.1 bcfd, Refinitiv data showed.
Front-month gas futures rose 2.8 cents, or 0.9%, to $2.994 per million British thermal units.
That kept the front-month in overbought territory with a Relative Strength Index (RSI) over 70 for a seventh straight day for the first time since November 2019.
The US Energy Information Administration (EIA) said utilities added 38 billion cubic feet (bcf) of gas into storage during the week ended April 16.
That was less than the 49-bcf build analysts forecast in a Reuters poll and compares with an increase of 47 bcf in the same week last year and a five-year (2016-2020) average increase of 37 bcf.
That small decline comes ahead of a federal report expected to show last week's storage draw was smaller than usual and could be the last withdrawal of the 2020-2021 winter heating season.
Front-month gas futures fell 2.3 cents, or 0.9%, to $2.495 per million British thermal units (mmBtu).
Spending on greener products including wind, solar, geothermal and hydrogen power will expand "significantly year on year," Dai said, without giving detail.
He said the next five-to-10 years would be "the window for energy transitions" and the company was working on precise timelines.
Manufacturing production dropped 3.1% last month, also weighed down by a global semiconductor shortage, the Federal Reserve said on Tuesday. That followed a 1.2% jump in January and ended nine straight monthly increases in factory output.
That likely had a ripple effect on segments of manufacturing tied to the oil industry. Excluding the weather impact, manufacturing output fell 0.5%, the US central bank said.