Natural Gas Market Note | 12.19.2025
NYMEX futures end a quiet day higher for near-term deliveries with deferred months flat
Natural gas prices ended the week mixed, with the January & February 2026 contracts registering gains while the Balance of 2026 lost ground. Calendar 2027 and 2028 saw mixed settlements amid the constituent months, with the annual strips ending the day near unchanged.
There was little in the way of new fundamental data in the market today, with minimal changes seen in the output of the weather forecasting models or vendor supply/demand estimates.
The next two weeks will be unique for the natural gas market in that next week, truncated by the Christmas trading holiday on Thursday, will not feature a Weekly Natural Gas Storage Report data release by the EIA as reported yesterday in an updated Holiday Release Schedule (Link). The following week, also shortened due to the New Year’s Day holiday, will feature two reports separated by only two trading days. The current release schedule is below:
An archive of Daily Natural Gas Market Notes can be found here.