Natural Gas Update November 19,2025

Overview

Natural Gas-- December NG is up 12.8 cents at $4.499
Natural gas prices have rallied further today off the back of a colder forecast for late November. The prospect for the first gas storage withdrawal in this week's EIA report is also seen as supportive. 

Weather forecasts turned colder for the central and eastern US toward the end of the November 23-27 period. (Barchart)

Feedgas demand remains strong with today's volume seen at 18.02 BCF/d compared to an average of 17.76 BCF/d so far this month. (Market News)

US domestic natural gas production was estimated down slightly to 110.14 BCF/d, but remain strong and in line with the 30 day average, according to BNEF.

The EIA gas storage data is seen as a draw of 12 to 18 BCF. This is versus last year's build of 3 BCF and the 5 year average build for the period of 12 BCF.

Technically momentum is negative, but the strong bounce Tuesday off of the $4.25 area suggests more of a trading range for spot futures prices at present. Resistance above comes in at 4.541 and then at 4.581-4.582. Support is seen at 4.376 and then at 4.316-4.323 from the December 60 minute chart.

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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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