The Energy Buyer's Guide | 03.09.2026

U.S. futures push higher amid sharp rally in global energy markets.

- Natural gas futures moved higher last week, supported in part by a sharp rally in global LNG benchmarks even as domestic fundamentals remained relatively comfortable.

- A 132-Bcf storage withdrawal trimmed the surplus to year-ago levels while widening the deficit to the five-year average as the winter season nears its end.

- Domestic demand declined sharply week over week as milder weather returned across much of the country and the market continued its transition toward shoulder-season conditions.

- Northeast Winter 2026–27 basis spiked higher, reflecting the region’s exposure to global LNG pricing as international supply disruptions pushed benchmark overseas prices sharply higher.