Natural Gas Market Note | 07.30.2026
September edges higher in its first day on the front of the curve.
Natural gas prices were mixed on Thursday, with September gaining $0.04 to settle at $2.76 per MMBtu while the winter strip slipped $0.02 to $3.54. Despite the modest rebound at the front of the curve, there was no meaningful shift in the broader market tone. September remains down $0.16 over the past week and $0.44 over the past month, while the winter strip is trading $0.24 below late-June levels.
Today’s 28-Bcf storage build was the smallest of the season and reflected the tighter balance created by ongoing heat and elevated power-sector demand. Still, the market continues to shrug off supportive weather, with strong production and reduced LNG feedgas flows helping to keep prices under pressure. With no major change in the forecast or underlying fundamentals, the near-term outlook remains largely unchanged.
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