The Energy Buyer's Guide | 03.23.2026

Natural gas futures mixed amid volatile global energy landscape.

- Natural gas futures remained rangebound last week, with a brief midweek rally fading quickly as the market settled back near recent levels.

- A 35-Bcf storage build marked the first injection of the year, pushing inventories back to a surplus relative to the five-year average and reinforcing a looser near-term balance.

- Demand increased sharply week over week due to a brief cold snap, though forecasts point to a rapid decline as mild weather takes hold.

- Winter 2026–27 pricing held firmer than the front of the curve, reflecting relative strength and an added risk premium without a clear shift in underlying fundamentals.