NYMEX futures continued to push slowly higher on Tuesday, with prices advancing for the third consecutive session. The November contract added 5 cents to finish near $3.11 per MMBtu, while the rest of the Winter 2026-27 strip followed suit to end at $3.30. November has now clawed back nearly all of the losses from its first three days at the front of the curve last week. Gains were less pronounced for Summer 2027, which increased by 2 cents to finish at $2.95 per MMBtu.
Despite the recent bump higher, pricing for winter and next summer remains near multi-year lows. Lingering heat across the majority of the U.S. continues to keep a floor under pricing, with cooling demand looking to hang on deep into October. However, with residential and commercial demand typically becoming more consequential during the second half of October, warmer-than-normal anomalies will soon take on a different meaning for key market areas. Instead of propping up cooling needs, these same maps will become bearish for heating demand.
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