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- Natural Gas Update February 16,2026
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February 24, 2026
Overview
Natural Gas--NG is down 21.8 cents at $3.025
NG futures have gapped lower--testing below $3 in the spot futures--with forecasts of warmer weather in the near future. Strong US gas production is also seen having weighed on prices.
The NOAA has forecast that the next two weeks will bring warmer-than-usual weather for this time of the year to much of the country.
Lower 48 states US dry gas production is currently estimated 1.22 BCF/d lower today at 113.90 BCF/d having risen to a very strong amount of 115.1 BCF/d over the weekend, BNEF data shows.
Money managers in Friday's CFTC report were seen having turned net short in the week ended Tuesday Feb. 10. 8,234 contracts of net shorts were added making the net total short 8,128 contracts.
TTF futures have also gapped lower over the weekend. Falling demand for heating as spring draws near has pressured prices, as has the sharp drop in the NG futures being seen. Yet, as of Friday, the European Union’s gas in storage was at 33.97%, according to Gas Infrastructure Europe, with Germany’s even lower, at just 23.95%, and the Netherlands’ at 15.57%. Analysts forecast that EU gas storage would be only about 26% full by the end of March, when the winter season officially ends. That would be the lowest end of season amount in 4 years and will necessitate substantial imports to replenish storage to the 80-90% target by November that the EU dictates. (Oil Price) The gap created over the weekend in the spot TTF futures goes from 31.340 to 31.575. Currently the spot futures are printing Euro 30.960.
The Baker Hughes gas rig count issued Friday showed an increase of 3 units.
Technically, the spot NG futures have fallen to their worst value since October 17, 2025. Momentum is oversold basis the DC chart and near oversold on the March daily chart. Support below lies at 2.893-2.903 and upside resistance lies at 3.147-3.149. The gap created over the weekend goes to 3.114.
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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.
Commodity trading involves risks, and you should fully understand those risks prior to trading. Liquidity Energy LLC and its affiliates assume no liability for the use of any information contained herein. Neither the information nor any opinion expressed shall be construed as an offer to buy or sell any futures or options on futures contracts. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Any opinions expressed herein are subject to change without notice, are that of the individual, and not necessarily the opinion of Liquidity Energy LLC
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