Natural Gas Market Note | 06.24.2026
Prices turn higher as back-and-forth trading continues.
Natural gas futures moved higher on Wednesday, with the prompt-month July 2026 NYMEX contract gaining 7 cents to settle near $3.22 per MMBtu. The move pushed July 20 cents above month-ago levels, though prices remain within the broader range that has held for most of June. Gains were spread across the curve, with the balance of summer adding 8 cents on the day and Winter 2026-27 moving 6 cents higher to settle near $3.82 per MMBtu.
Warmer weather expectations are still offering support, with above-normal temperatures becoming more established across the eastern two-thirds of the U.S. over the next couple of weeks. The market is also looking ahead to tomorrow’s EIA storage report, with analysts expecting a 70-Bcf build for the week ended June 19. That would come in slightly below the five-year average of 75 Bcf, trimming the surplus to 146 Bcf while leaving inventories 55 Bcf below year-ago levels. The setup keeps storage in comfortable shape overall, but with less room for error if cooling demand continues to strengthen.
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