Natural Gas Market Note | 04.29.2026
June rolls to the front of the forward curve and gives up some of its premium.
The June 2026 NYMEX contract became the prompt month today, rolling to the front of the curve at a premium of about 14 cents above May’s expiration. June gave up ground, settling about $0.04 lower near $2.65 per MMBtu. The Balance-of-Summer 2026 strip lost 5 cents, while contracts beyond October were little changed on the day.
Temperature forecasts point to an abbreviated period of more significant heating demand in the immediate term, but anomalies are expected to fade beyond the next few days, with weather patterns returning closer to demand-neutral across most key market areas. The cold in the 1–5 day period will lead to elevated residential and commercial demand, but volumes are expected to remain well below levels seen during colder-than-normal periods earlier in April.
Tomorrow’s storage report is expected to show a smaller build than the week prior. Following the historic 103-Bcf injection for the week ended April 17, the report covering the week ended April 24 is expected to show a build near 79 Bcf, according to the The Wall Street Journal survey of analysts. Estimates fell within a relatively tight range, spanning 72 to 84 Bcf. The build is likely to add to the surplus versus the five-year average while coming in below the year-ago injection of 105 Bcf.
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