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- Natural Gas Update October 31,2025
Overview
Natural Gas--NG is up 16.8 cents at $4.124
A cooler forecast for November has seen the December spot NG futures rally firmly over $4. Strong LNG feed gas demand for export is also seen aiding prices the past 24 hours, as is seasonally strong demand.
Forecasts shifted cooler over the eastern half of the country for Nov. 9-13, as per Atmospheric G2's Thursday report. As one commentary reads :"colder U.S. weather forecasts and rising heating demand fueled a sharp rebound (in natural gas futures prices). The move marks a clear shift in sentiment as traders price in the start of the high-demand winter season, with technical and seasonal dynamics aligning to support further upside."
LNG terminal feedgas is today up to a new record high at 17.85 BCF/d driven by rising flows to both Cameron, Calcasieu Pass and Sabine Pass on the day. (Market News) The record high level is partially due to the fact that cooler weather is allowing LNG plants to run more efficiently and at higher feedstock volumes.
Lower 48 natural gas demand, although estimated to be 2.08 BCF/d lower today at 79.0 BCF/d, is still above the five-year seasonal average which is trending higher at around 73 BCF/d, Bloomberg shows.
The EIA gas storage data issued Thursday of a build of 74 BCF was right in line with expectations. The total amount of gas in storage rose to 3.882 TCF. This is +171 BCF/+4.61% versus the 5 year average and +29 BCF/+0.75 % versus last year's level. Early estimates for next week are for a build of 46 BCF as per Bloomberg data and +35 BCF as per Celsius Energy. Last year saw an increase of 68 BCF for the period. The 5 year average for the week is a build of 42 BCF.
Technically NG spot futures are seeing positive momentum. Today's spot futures price is the highest since June 20th, when the price reached $4.148, which we see as resistance. That resistance has been tested with a high of 4.157 this morning. Above that resistance is seen at 4.173-4.176 from the December daily chart. Support lies at 4.001-4.006. The only negative technical factor seen is the spot futures are trading over the DC chart's upper bollinger band that intersects at $4.00. Thursday's close and today's most likely will make for a mean reversion set up, with a close over the upper bollinger band.
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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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