The Energy Buyer's Guide | 04.06.2026

Natural gas futures continue to trend lower amid bearish near-term fundamentals.

- Natural gas futures moved lower across the curve last week, with the prompt-month contract pushing back firmly below $3.00 per MMBtu as near-term fundamentals softened.

- A 36-Bcf storage build rounded out the final week of the traditional winter season, with inventories holding slim surpluses to both year-ago levels and the five-year average.

- Milder weather is expected to limit energy demand in the near term, reinforcing a bearish setup as the market moves through the shoulder season.

- Underlying supply dynamics remain tighter than last year, with strong LNG demand and weaker Canadian imports offsetting robust production and introducing potential upside risk later in the summer.