NYMEX natural gas futures ended the day lower, following a natural gas storage report that landed in line with expectations. The November 2026 contract, which rolled into the prompt-month position on Tuesday, ended the day down $0.06 per MMBtu at $2.97. The upcoming Winter strip (which includes November) also lost $0.06 to end the day at $3.21 per MMBtu. The weakness extended out the forward curve, with deferred deliveries also declining on the day.
The Weekly Natural Gas Storage Report showed a build of 64 Bcf into storage inventories for the week ending September 25, continuing the trend of no-surprise weekly inventory changes. In looking at futures price changes over the past month of trading (below), contracts for delivery in Winter 2026-27 have lost quite a bit of premium since the beginning of September, while Summer 2027 is down a modest amount.
An archive of Daily Natural Gas Market Notes can be found here.