Natural Gas Update April 7,2026

Overview

Natural Gas--NG is up 2.9 cents at $2.840
NG prices are higher now after overnight making a fresh spot futures low since August 27, 2025. One word being used to describe NG prices is "range bound". The market is trying to balance the global disruption and strong energy pricing from the Iran conflict with the US showing strong production and fading heating demand, as per NGI commentary. Monday saw NG spot futures settle a little higher on the back of a brief cold snap through the Ohio Valley and eastern U.S., as well on the back of the strong energy complex, as per Bloomberg reporting.

Today, LNG feedgas volume has fallen by 1.04 BCF/d to 17.72 BCF/d due to drops in volumes at Sabine Pass, Freeport and Plaquemines. (Market News)

Market News is reporting that US NG production yesterday stood at 113.4 BCF/d, versus the 30 day average of 112.0 BCF/d. 

US heating demand for the week ending April 11 is forecast to be 23 heating degree days (HDD) below the long-term normal, according to the NOAA. Over the next two weeks, much of the Lower 48 will see unseasonably mild temperatures, as per Celsius Energy commentary.

NGI, though, says that natural gas cash prices were supported Monday by a cold shot across the country’s northern portion and record LNG feed gas flows. NGI’s Spot Gas National Average price rose by 18.5 cents to $1.665/MMBtu.

The EIA gas storage data for this week is forecast to shows a build of 42 to 44.9 BCF, as per early estimates. This compares to last year's build of 53 BCF and the 5 year average build of 13 BCF.

Technically the NG spot futures have momentum that is oversold basis the DC chart. The pattern, though, of the past 6 sessions has a stepladder down look. Support at 2.772-2.775 was pierced with the overnight low of 2.756. below that support is seen at 2.721-2.724. resistance comes in at 2.943-2.944.

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