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- Natural Gas Update April 1, 2026
April 1, 2026
Overview
Natural Gas--NG is down 3.8 cents at $2.846
NG spot futures are also lower--following the energy complex and the TTF European gas futures lower. Shoulder season weather demand is a further weight on NG prices. As one comment reads: "There has been no major change in the underlying narrative or fundamentals to shift sentiment."
The Commodity Weather Group, on Tuesday, said forecasts shifted colder, although above-average temperatures are still expected across the eastern half of the US through April 4. (Barchart)
TTF gas prices are the lowest in 3 weeks. TTF European gas prices have fallen back below Euro 50 amid favorable weather forecasts and hopes of de-escalation in the Iran conflict. ING adds :"Strong wind generation could weigh on gas demand for power, while weaker industrial demand and a lighter maintenance season in Norway add to the bearish tone." The weaker price comes even as storage levels in the EU remain low.
Market News estimates that US Lower 48 states natural gas production is at 109.2 BCF/d, down 3.1 BCF/d overnight.
Tuesday saw the next day Henry Hub cash gas price rise to $3.15, which was a rise of about 25 cents from Monday. The cash futures premium rose to about 23 cents from Monday's differential of about 3 to 3.5 cents. Is the next day HH price rise due to LNG demand? Is it due to the onset of injection season, which starts April 1? Is it due to any maintenance along pipelines in the region? On Tuesday, NGI’s Spot Gas National Average rose by 6.5 cents to $1.710/MMBtu.
Notable in Monday's NG futures settlements on the CME is the drop in the December 26 through February 27 strip. They fell by 15.6 to 16.9 cents versus the May futures falling by only 03. cents and the June contract declining by 2.9 cents. The decline in the winter strip is attributed to ceasefire hopes in the Iran conflict, which will hopefully ease concerns over supply for next winter. This pattern of the next winter strip losing ground to the front has continued today. The Dec 26 through Feb 27 strip is currently down 8.0 to 9.5 cents, versus May being down 3.7 cents.
Technically the selloff of the past 24 hours has turned momentum negative --with key support at 2.803/2.807 close by. Below that support lies at 2.776. Resistance is seen at 2.943 and then at 2.981-2.986.
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