Natural gas futures finished the week with a modest recovery, with the September 2026 contract gaining $0.04 to settle at $2.77 per MMBtu. Winter 2026-27 added $0.03 to $3.37, although the strip still finished the week down $0.05 and remains $0.23 below month-ago levels. Gains were smaller further out the curve, leaving the broader structure largely unchanged following the weakness seen earlier in the week.
Weather continues to offer limited support outside of Texas, with relatively tame conditions expected across most of the country as the market moves closer to the fall shoulder season. Production turned slightly lower late in the week, but the move has been modest and does little to change the broader supply picture for now. With inventories still in healthy shape and cooling demand gradually losing seasonal support, the fundamental backdrop remains relatively soft despite Friday’s rebound.
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