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- Natural Gas Update March 2,2026
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March 4, 2026
Overview
Natural Gas--NG is up 13.6 cents at $2.995
NG prices have risen in tandem with the other energies after a tepid opening last night and are supported by the news from Qatar of a force majeure on LNG deliveries. TTF European prices have risen dramatically.
Qatar today has declared force majeure on LNG deliveries. (Bloomberg) Qatar's government said an energy facility belonging to gas giant Qatar Energy was attacked by two Iranian drones on Monday, with authorities still assessing the damage. (Reuters) About 20% of global LNG exports come from the Gulf, primarily Qatar, and are shipped through the Strait of Hormuz, according to data from energy consulting firm Kpler. (CNBC) TTF European spot futures have risen dramatically, gapping higher over the weekend. Currently the TTF spot futures are trading up almost 50% from their Friday settlement.
Money managers added a lot of net short positions in NG futures/options on the CME in the week ended Tuesday February 24. Net short positioning rose by 48,866 contracts to a total net short of 75,706 contracts. The increase was due to over 40,000 contracts of new shorts having been added.
The Baker Hughes gas rig count issued Friday showed an increase of 1 unit.
Technically the NG DC chart's bollinger bands have tightened even further from what we saw last week, thus signaling a breakout is likely from the recent range. Momentum on the DC chart has turned positive. Support for the spot NG futures is seen at 2.910-2.912. The overnight low is 2.867. Below that support lies at recent lows at 2.818-2.826. Resistance comes in at 3.130-3.135 and then at 3.206-3.210.
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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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