Selling pressure continued across the NYMEX natural gas futures curve on Friday, bringing an already difficult week for prices to a close. The December 2026 contract shed another 5 cents to finish near $2.90 per MMBtu, extending its weekly decline to 15 cents and its monthly loss to 47 cents. The balance-of-Winter 2026-27 strip slipped 4 cents to $2.93 per MMBtu, while Summer 2027 fell by the same amount to settle near $2.71 per MMBtu. Both seasonal strips finished the week at new five-year lows, with weakness extending further out the curve.
Persistently bearish weather forecasts remain the primary driver of the recent selloff, with widespread above-normal temperatures expected to limit heating demand across much of the country during the opening weeks of November. The mild outlook continues to overshadow otherwise supportive fundamentals, including record LNG export demand and a storage surplus that has narrowed considerably since the summer. With domestic production remaining robust and little indication of a meaningful shift toward colder weather, the market continues to struggle to find support.
An archive of Daily Natural Gas Market Notes can be found here.