Natural Gas Market Note | 07.10.2026
Futures end the week on a three-day losing streak.
NYMEX natural gas futures ended the week on a bearish note, with the front of the curve breaching psychological support at $3.00 per MMBtu and extending Thursday’s losses. The August 2026 contract gave up another 7 cents to finish near $2.94 per MMBtu. The contract traded as low as $2.87 this morning before recovering some of its losses into settlement. Winter 2026–27 posted slimmer declines but fell to fresh multi-year lows below $3.60 per MMBtu.
Thursday’s bearish sentiment carried over into trading ahead of the weekend. With no extended heat on the horizon, the market remained focused on impending feedgas reductions due to maintenance at Freeport LNG and the implications of Thursday’s storage report. Liquefaction demand at Freeport was reduced by about 1 Bcf per day on Friday compared with recent levels, with similar disruptions expected to persist through August. Meanwhile, Thursday’s storage report, which covered the hottest week of the year so far, still showed an expanding surplus and healthy inventory growth. The data indicates that power generation demand may not spike as high as previously estimated during subsequent hot-weather events, especially if Texas continues to be spared from major heat.
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