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- Natural Gas Update April 8,2026
April 10, 2026
Overview
Natural Gas--NG is down 12.0 cents at $2.750
Henry Hub futures prices have followed the decline in the wider energy complex down to the lowest since August. TTF futures have gapped lower. A bearish US weather outlook has alos weighed on prices. But, some support may come from strong feedgas demand and lower gas production.
Market News data shows LNG terminal feedgas demand is estimated to rebound 1.21 BCF/d today to 19.16 BCF/d. The rise is driven by a recovery in Sabine Pass, Freeport, Cameron and Plaquemines flows.
US Lower 48 states dry gas production is estimated down to 110.3 BCF/d today from 111.4 BCF/d yesterday and compared to a 30-day average of 112.0 BCF/d, Market News data shows.
"The near-term temperature outlook remains just about as bearish as it can get", Celsius Energy writes.
TTF spot European gas futures prices have gapped lower on the back of the ceasefire agreement in the Mideast. The gap goes up to Euro 48.830. The current price for the spot May TTF futures is 44.300 Euro/Mwh (=$15.22 /MWH). The TTF price is thus down nearly 17% from Tuesday's settlement. The drop is the biggest one-day reduction in more than two years. The contract has tested the DC chart's lower bollinger band today. That band lies at about Euro 45.25. Support is seen at the 42 Euro area and then at the 38 Euro area. Above the gap, resistance comes in at 50.50-50.56.
Bloomberg is reporting that Qatar has begun work to resume production at its LNG export plant.
The EIA in their monthly STEO issued Tuesday reduced their NG price forecasts for 2026 and 2027, while lowering their demand forecast and raising their production estimate. The 2026 average Henry Hub price is forecast to be $3.67, which is down 9 cents from last month's estimate. The 2027 price estimate was lowered by 26 cents to $3.59. US gas production is seen at 109.6 BCF/d for 2026, which is up 0.1 BCF from March's forecast. In 2027, US gas production is seen at 112.6 BCF/d, up 0,3 BCF/d from last month's figure. US gas demand for 2026 is seen at 90.6 BCF/d, which is lower by 0.8 BCF/d from last month's figure. But, in 2027 demand is seen at 92.7 BCF/d, which is up 0.6 BCF/d from March's estimate. The EIA sees end October 2026 gas inventories at 4,015 BCF, which they say is 6% more than the five-year average.
NG spot futures tested support at 2.721-2.724 with an overnight low of 2.707. Below that support is seen at 2.689. Resistance lies at 2.888-2.889. The DC chart, though, shows momentum trying to turn positive from an oversold condition.
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Disclaimer
This article and its contents are provided for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any commodity, futures contract, option contract, or other transaction. Although any statements of fact have been obtained from and are based on sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed.
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