Natural Gas Market Note | 05.06.2026
NYMEX futures push lower for the second straight day.
Natural gas futures finished lower across the board on Wednesday, marking the second consecutive day of downward price action. The June 2026 contract was down about 6 cents on the day to finish near $2.73 per MMBtu. Losses were slightly more pronounced in the Winter 2026-27 strip, which breached $4.00 support and settled near $3.93 per MMBtu. Despite two days of losses, deliveries through March 2027 are still up compared to week-ago levels.
After a long period of cooler weather, widespread warmer-than-normal temperatures are now in the forecast starting in the 11-15-day outlook. This will bring population-weighted heating degree days to minimal levels and drive the first consistent air-conditioning needs of the season, with cooling degree days expected to come in near or slightly above normal levels beginning early next week. Still, forecast anomalies are relatively soft, and there are no major heat waves akin to mid-May 2025 on the horizon.
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