Natural Gas Update March 24,2026

Overview

Natural Gas --May NG is up 0.8 cents at $2.882
NG futures are higher today--gaining back some of the sharp 20 cent selloff seen Monday. Monday's selloff was driven by the sharp fall in energy prices as well as the shoulder season weak demand/supply balance. Yet, some support may be coming from Monday's better demand and slightly weaker NG production. Some news wire accounts have suggested that NG futures may be supported by the overall global LNG supply disruptions.

US dry gas consumption Monday seen was 81.52 BCF/d --versus the 5 year seasonal average of 75.7 BCF/d, as per Bloomberg data.

Monday's US NG production as per BNEF data was 112.43 BCF/d--down from the 30 day average of 113.40 BCF/d.

TTF European gas prices are lower today. A "surge" in wind power generation is behind today's selloff, as power prices have dropped sharply in Germany and France, as per Reuters reporting. LNG deliveries to Europe have remained relatively stable this month, but replenishing inventories over the summer could prove challenging if disruptions persist and competition from Asia intensifies. EU gas storage currently stands just above 28%, well below the five‑year average of 41%.  The European Union has called on member states to start filling gas storage early to ensure proper refilling for the next heating season. “Starting storage injections as early as possible would allow us to benefit from a longer injection period and adapt to market circumstances to mitigate pressure on prices and avoid end-of-summer rush,” the European Energy Commissioner said.   (MSN/ING) The selloff in the spot TTF futures has seen the gap that was created a few days ago that went down to Euro 56.375 closed . Technically, momentum is negative for the TTF--with support seen at 48 and then 45.435 Euro/Mwh. Resistance lies at Euro 63.15.

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