Natural gas futures extended their recent decline on Monday, with the November 2026 NYMEX contract falling another 6 cents to settle at $3.06 per MMBtu. The prompt-month contract has now lost 11 cents over the past week, while the full Winter 2026-27 strip declined 2 cents on the day to finish at $3.24 per MMBtu, down 15 cents week-over-week. Selling pressure remained concentrated near the front of the forward curve, with Summer 2027 and most longer-dated contracts edging 1 cent higher on the session.
The continued weakness in nearby prices suggests that traders remain comfortable with the near-term supply outlook as the market moves deeper into the fall shoulder season. Mild weather and limited heating demand have weighed on sentiment, despite the recent tightening in storage inventories. With expectations for temperatures to remain bearish into at least early November, storage inventories could play catch up in the weeks to come.
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