Natural Gas Market Note | 02.06.2026
Prices reverse lower to finish the week on a down note.
Natural gas futures looked poised for a fourth straight day of gains, but a mid-day reversal sent benchmark pricing lower to close out the week. The March 2026 contract ended the day down 9 cents at $3.42 per MMBtu after failing to sustain momentum above the $3.50 level. The rest of the curve finished lower as well, though losses diminished beyond Summer 2026.
The intraday reversal highlighted heavy selling interest in the prompt-month contract north of $3.50 per MMBtu, reinforcing that level as a key area of resistance when trading resumes next week.
This weekend will bring another notable cold shot to the Eastern U.S., with frigid weather expected to sweep across the Mid-Atlantic and Northeast over the next three days. While this event is not expected to be as widespread or intense as last week’s cold, it should help keep demand elevated into early next week before milder weather settles across most of the country beyond day five of the outlook. Forecasts for the remainder of the month lean bearish for demand, though the risk of a renewed bout of significant cold remains on the table through February.
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