NYMEX futures were down across the board on Monday, with the prompt-month October 2026 contract leading the way. The front of the curve gave up 8 cents to finish near $2.84 per MMBtu, essentially giving back all of last week’s gains. Declines were less pronounced further out the curve, with the Winter 2026-27 and Summer 2027 strips each falling by 3 cents and hitting fresh multi-year lows.
Support for nearby futures appears to be fading as most of the nation reverts to a more seasonal weather pattern. Benchmark futures lingered near $3.00 per MMBtu for much of last week but never seriously tested resistance. Today’s price action suggests that market sentiment may be turning more bearish.
While a slight warmer-than-normal bias is expected to persist into early October, the anomalies are not nearly as extreme as those observed in recent weeks. Instead, temperatures are poised to come in near neutral for energy needs, limiting lingering cooling demand while also preventing the onset of material early-season heating load.
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