NYMEX natural gas futures ended the week on an uptick, with gains again focused on the front of the forward curve. The December 2026 contract added 5 cents to finish just two ticks below the psychologically important $3.00 level. This price point has historically represented an important line in the sand for natural gas pricing and acted as resistance for the prompt-month contract over the past week. The balance-of-Winter 2026-27 strip increased by 3 cents to end the day just below $2.99 per MMBtu, while the rest of the curve was relatively unchanged.
The market found some support this week as a downturn in domestic production coincided with an uptick in LNG exports. However, the production dip is expected to be temporary, while the broader market continues to face pressure from bearish weather outlooks. Although near-term forecasts are beginning to indicate some cooler-than-normal temperatures along the East Coast during the 6-10 day period, no significant cold is currently anticipated, and heating demand is expected to remain subdued well into November.
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