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- Natural Gas Update March 25,2026
March 27, 2026
Overview
Natural Gas--May NG is down 4.3 cents at $2.869
NG futures are down today--having fallen to their lowest spot futures value since February 27. 14 day GWDD's "remain comfortably at 5 year lows", as per Celsius Energy analysis. This weak weather demand is in addition to the strong pullback being seen in the energies, reducing some of NG's allure even as global LNG supply remains tenuous.
Average Lower 48 states temperatures are forecast to bounce around at or above normal throughout the coming two-week outlook, as per NOAA data, thus keeping gas demand on the weak side. On Tuesday, the Commodity Weather Group said forecasts shifted slightly warmer, with above-average temperatures expected to cover most of the US through April 2.
Lower 48 states dry gas production is estimated 0.526 BCF/d lower at 112.13 BCF/d today compared to a 30-day average of 113.35 BCF/d, BNEF data shows.
TTF spot European futures prices have gapped lower today. The gap goes from 52.270 down to 51.760 Euro/Mwh. The TTF is also, like the energy complex, being pressured by the easing of supply concerns as a Mideast diplomatic solution is being sought.
Notable in NG futures settlements seen on the CME Tuesday was the weaker performance in the back portion of the curve. April spot futures rose by 5.2 cents and May by 3.8 cents, while the December 2026 contract fell by 3.7 cents, and January 2027 fell by 3.5 cents. The back months were said to have fallen as any resolution of the Iran conflict is seen easing the concerns over geopolitical risk premiums, as per NGI commentary. The pattern of the front months gaining against the winter strip has continued today. April 2026 is down 3.4 cents, while May 2026 is down 3.8 cents, while December 2026 is down 7.0 cents and January 2027 is down 9.1 cents.
Technically the May futures still have negative momentum, having tested support at 2.844-2.849 today. Below that support is seen at 2.807. Resistance lies at 2.951-2.956 and then at 2.981-2.982.
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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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