Natural Gas Market Note | 08.13.2026
Prices give up ground on larger-than-expected storage build.
Natural gas futures moved lower on Thursday, giving back a portion of their recent gains despite lingering summer heat. The September 2026 contract fell $0.08 to finish near $2.73 per MMBtu, while Winter 2026–27 declined $0.09 to $3.43. Nearby prices remain above week-ago levels, with September up $0.09, although most of the curve through 2027 remains lower compared to a month ago.
Today’s EIA storage report showed a larger-than-expected 36-Bcf injection into underground inventories, slightly exceeding the five-year-average build of 33 Bcf. Storage growth has now outpaced the seasonal benchmark for four consecutive weeks and seven of the past eight, expanding the surplus to the five-year average to 198 Bcf. Lingering heat across Texas and the Southeast continues to support elevated power-sector demand, but strong production and healthy inventories remain significant headwinds as the market moves closer to the end of peak summer demand.
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