4 posts · All commentary
Natural gas rallied to its highest since early July as a +53 Bcf build kept September tight, but October's surplus and a record El Niño test the winter premium.
A tight late-September tail kept the front firm, but a loosening October shoulder and a record El Niño winter mean cap every rally into contango.
US gas gave back an early-week pop as the autumn shoulder loosened, even as a European supply crunch and near-capacity LNG exports kept a floor under prices.
Henry Hub closed at an 8-week high on tight early-September builds and near-capacity LNG pull, even as a record-strength El Niño undercuts the winter strip.
See a full daily report, exactly as members saw it a week ago.
Open a sample reportArrows show which way each number moved. Green means the move usually supports natural-gas prices; red means it usually weighs on them. More production is red because extra supply tends to push prices down. More LNG feedgas is green because exports take gas out of the US market. Storage is judged against the 5-year average for the same date, so a normal-sized build stays grey. Grey means the figure is smaller than half its usual size over the past year (for a day change, half the usual daily move). It’s a rule of thumb, not a forecast: the outlook weighs everything together. Degree days keep their warm and cool words; the number is coloured by what it means for prices, except on the Degree Days pages, where word and number both keep the temperature colour.
Arrows show which way each number moved. Green means it went up, red that it went down; prices are green when they rise. Grey means the figure is smaller than half its usual size over the past year (for a day change, half the usual daily move). Degree days keep their warm and cool words; the number is coloured by which way it moved, except on the Degree Days pages, where word and number both keep the temperature colour.
Thresholds last worked out on 5 Oct 2026 from the year before.