Natural Gas Market Note | 02.27.2026
Futures firm modestly ahead of the weekend.
April futures edged 3 cents higher on Friday to end the week just below $2.86 per MMBtu, with the rest of the forward curve firming to a lesser degree. After opening higher on Sunday evening, the market looked like it might be in store for renewed upside momentum, but prices ultimately mirrored the action of the previous two weeks — drifting lower amid very quiet trading activity.
With the early-week cold snap out of the way, temperature forecasts are now overtly mild across virtually the entire U.S. as the calendar turns to March. The forecast for population-weighted heating degree days averages just under 14, which is roughly 25% warmer than normal. With heating demand waning and production sitting near record highs, storage inventories are in line to potentially post net increases in March, perhaps leading to an early seasonal low for natural gas stocks.
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