Natgasweather

Natural gas futures recovered from Friday’s low as short-covering helped November reclaim the $3.00 area. Still, mild shoulder-season demand, elevated production and a comfortable storage cushion leave the broader market tilted toward sellers.

November natural gas futures recovered from $2.912 and moved back above $3.00 late in the session, hinting at a possible reversal attempt. Even so, mild shoulder-season weather, elevated production and comfortable storage levels leave the broader bias tilted toward sellers.

November natural gas futures moved lower early Thursday after failing to extend Wednesday’s recovery above the key round-number area. Mild weather, growing output and elevated storage expectations continue to limit buyer confidence ahead of the EIA inventory update.

September natural gas futures are under pressure ahead of the EIA weekly storage update, with traders watching whether a potential reversal pattern can attract follow through buying. Extreme southern heat is supporting power burn, but cooler conditions across key consuming regions and strong Lower 48 production continue to favor sellers.

Natural gas futures remained on the defensive as a large storage build outweighed strong summer cooling demand and firm LNG feedgas flows. Market participants continue to see production near record levels as the central reason weather-driven demand has not tightened the balance enough.