NYMEX natural gas futures were little changed on Thursday, with the October 2026 contract adding a penny to finish near $2.90 per MMBtu. Price action was mixed further out the curve, as Winter 2026-27 slipped another penny to $3.30 per MMBtu while most longer-dated contracts finished essentially flat. The prompt month is now up $0.07 over the past week, but the winter strip remains under pressure and continues to trade near multi-year lows.
This morning’s storage report continued a recent trend of improving injections with a 44-Bcf build, but inventories are still losing ground to historical benchmarks. Builds have increased in recent weeks, though they remain lighter than normal for this time of year, steadily eroding the storage cushion built earlier in the summer. That tightening backdrop is helping provide some underlying support to the market even as generation demand begins to ease.
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