Natural Gas Market Note | 05.15.2026
Nearby futures push higher ahead of the weekend.
Mixed price action continued on Friday across the NYMEX forward curve. The June 2026 contract added nearly 7 cents to finish near $2.96 per MMBtu, marking a six-week high for prompt-month natural gas. The remainder of the summer was up as well, but to a lesser degree, with the June-October strip increasing by $0.04 per MMBtu on average. Beyond that, prices were virtually flat on the day, with Winter 2026-27 holding near four-year lows and longer-dated deliveries finishing lower on the week.
The heat wave is already leading to seasonal highs in natural gas demand from the power generation sector. That consumption is approaching 35 Bcf per day for the first time since early March and is expected to hit new highs early next week as the heat peaks in the populous East. Cooling degree day totals in the coming days are expected to remain well short of even run-of-the-mill weather during the peak summer months, but the early timing has the attention of natural gas market participants, who are bracing for the potential of an overall warmer-than-normal summer.
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