Natural gas futures finished modestly lower across the curve on Tuesday, with most contracts slipping by a penny. September settled at $2.77 per MMBtu and remains essentially unchanged over the past week, while Winter 2026–27 fell to $3.38 and is now down $0.27 over the past month. The broader curve continues to show relatively little direction, with most contracts holding close to recent levels.
There are now just two trading days remaining before the September contract expires, which could introduce some additional volatility at the front of the curve as positions are rolled or closed out. Beyond the expiration noise, however, the broader fundamental backdrop remains relatively soft, and winter pricing continues to carry most of the recent downside momentum as the market approaches the fall shoulder season.
An archive of Daily Natural Gas Market Notes can be found here.