Natural Gas ($GAS) Commodity Forecast: Down 5.0% Today

What is Natural Gas?

Natural Gas is a widely used commodity for heating and electricity generation, with its prices highly influenced by supply and demand dynamics, weather conditions, and storage levels. Today, the market experienced a strong bearish movement, with prices declining significantly.

Why is Natural Gas going down?

GAS commodity is down 5.0% on Apr 23, 2026 21:45

• Natural gas futures fell due to ample storage levels, strong injections into inventories, and mild spring weather keeping heating demand subdued.
• Despite recent production declines and near-record flows to LNG export facilities, the market remained under pressure from the large storage surplus.
• Forecasts of warmer weather across the US Midwest through late April are expected to further reduce heating demand and limit power-sector consumption, leading to a bearish sentiment in the natural gas market.
• The broader decline in energy markets, influenced by hopes for a negotiated end to the Middle East conflict, also contributed to the drop in natural gas prices today.

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GAS Technical Analysis

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US Natgas Prices Fall to 18-Month Low

US natural gas futures fell more than 4% to $2.60 per MMBtu, nearing their lowest since October 2024, pressured by ample storage levels and continued strong injections into inventories. A federal report showed utilities added 103 billion cubic feet of gas to storage for the week ended April 17, above expectations and well ahead of both the 77 bcf added in the same week last year and the five-year average build of 64 bcf. Mild spring weather has kept heating demand subdued, allowing above-normal injections and pushing total inventories to about 7.1% above typical levels. Looking ahead, forecasts suggest mostly near-normal temperatures through early May, limiting demand upside. On the supply side, output has declined by around 3.8 bcfd over the past 17 days to an 11-week low of 108.3 bcfd, while LNG feedgas flows have climbed to 18.9 bcfd so far in April, putting the month on track for a possible record.

US Natgas Prices Ease

US natural gas futures fell to around $2.67 per MMBtu on Wednesday, snapping a five-session gain that had been supported by recent production declines and near-record flows to LNG export facilities. Average output has dropped by roughly 3.9 bcfd over the past 15 days, reaching an eleven-week low of 108.2 bcfd. At the same time, deliveries to major LNG export terminals have climbed to 18.9 bcfd in April, placing the month on track to set a new record. However, the market remains under pressure due to ample inventories. Mild spring weather has allowed for strong storage injections, leaving stockpiles about 7% above the five-year average as of April 17. Weather forecasts have also shifted warmer across the US Midwest through late April, which is expected to reduce heating demand and limit power-sector consumption.

US Natgas Prices Hover at 2-Week High

US natural gas futures rose to a two-week high of $2.70 per MMBtu, supported by a recent decline in production and near-record flows to LNG export facilities. Average output has fallen by around 3.9 bcfd over the past 15 days to an 11-week low of 108.2 bcfd, while deliveries to major LNG terminals have climbed to 18.9 bcfd in April, putting the month on track for a possible record. Despite this, prices remain close to their lowest level since October 2024 due to a large storage surplus, with inventories boosted by mild spring weather that has enabled strong injections and left stockpiles about 7% above the five-year average as of April 17. Forecasts have turned warmer across the US Midwest through late April, reducing expected heating and power demand and pointing to further inventory builds as the market moves deeper into the low-demand spring shoulder season.

US Natural Prices Ease

US natural gas futures dropped to $2.65 per MMBtu, trimming some of the gains from previous sessions as they tracked a broader decline in energy markets amid hopes for a negotiated end to the Middle East conflict. US Vice President JD Vance is set to travel to Pakistan for the second round of peace talks, while Iran is expected to send a delegation after earlier expressing hesitation about participating. Additional pressure came from a persistent storage surplus. Unseasonably mild spring weather has allowed for strong inventory injections, lifting stockpiles to an estimated 7% above the five-year average for the week ended April 17. Looking ahead, forecasts for near-normal temperatures through early May are likely to keep demand subdued, while analysts expect storage levels to remain elevated. Gains in previous sessions had been supported by a drop in output over the past couple of weeks and near-record gas flows to US LNG export plants.

US Natgas Prices Edge Up Slightly

US natural gas futures climbed to $2.70 per MMBtu, supported by a drop in output over the past couple of weeks and near-record gas flows to US LNG export plants, but were still close to their lowest level since October 2024. Average daily output dropped by approximately 3.9 bcfd over the last fortnight to a 10-week low of 108.3 bcfd. Simultaneously, gas deliveries to major US LNG terminals rose to 18.9 bcfd so far in April, positioning the month for a potential record high. However, the upside remains capped by a persistent storage surplus. Unseasonably mild spring weather has facilitated aggressive inventory injections, pushing stockpiles to an estimated 7% above the five-year average during the week ended April 17. Looking ahead, meteorologists forecast near-normal temperatures through early May, and analysts expect storage levels to stay elevated.

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Natural Gas Price History

18.02.2026 - GAS Commodity was up 5.2%

• The bullish movement in Natural Gas prices today can be attributed to a combination of factors:
• Warmer spring outlook and record domestic production weighed on prices, but ongoing supply risks from the Middle East conflict supported the upward momentum.
• Despite the disruptions in gas shipments from the Persian Gulf due to the conflict, the impact on US prices remained limited due to the country's sufficient natural gas production and LNG export capacity.
• The smaller than expected inventory withdrawal indicated a decrease in heating demand as the winter season comes to an end, further influencing the market sentiment.
• Global energy prices rose due to the conflict, leading to increased foreign demand for US liquefied natural gas and higher asking prices at Henry Hub, despite ample domestic production.

12.02.2026 - GAS Commodity was up 7.3%

• Natural gas prices surged due to ongoing tensions in the Middle East, particularly disruptions in LNG supply from Qatar and concerns about the closure of the critical Strait of Hormuz.
• President Trump's comments suggesting a potential de-escalation in the conflict and the resumption of traffic in the Strait of Hormuz led to a drop in prices as the risk premium decreased.
• Warm weather forecasts and record domestic production levels also contributed to the decline in prices, along with ongoing infrastructure outages at the Freeport LNG terminal trapping supply within the domestic market.
• Despite the volatility in global energy markets, US natural gas prices have remained relatively stable compared to international benchmarks, supported by ample domestic supply and limited export capacity.

23.03.2026 - GAS Commodity was down 5.1%

• Natural gas futures fell due to a combination of factors including a recent increase in production, near-record flows to LNG export facilities, and mild spring weather allowing for strong storage injections.
• The market was also influenced by hopes for a negotiated end to the Middle East conflict, with news of US Vice President JD Vance's upcoming peace talks in Pakistan and Iran's potential delegation participation.
• Despite some attempts at a rebound supported by a drop in output and expectations of stronger demand, prices remained close to their lowest levels since October 2024 due to a persistent storage surplus and forecasts of warmer-than-normal conditions limiting heating demand.

23.03.2026 - GAS Commodity was down 5.0%

• Natural gas futures fell due to ample storage levels, strong injections into inventories, and mild spring weather keeping heating demand subdued.
• Despite recent production declines and near-record flows to LNG export facilities, the market remained under pressure from the large storage surplus.
• Forecasts of warmer weather across the US Midwest through late April are expected to further reduce heating demand and limit power-sector consumption, leading to a bearish sentiment in the natural gas market.
• The broader decline in energy markets, influenced by hopes for a negotiated end to the Middle East conflict, also contributed to the drop in natural gas prices today.

19.02.2026 - GAS Commodity was up 7.5%

• Natural gas futures surged by about 5% due to supply concerns caused by attacks on key energy infrastructure in the Middle East, particularly targeting LNG assets.
• Despite the ongoing conflict in the Middle East disrupting global gas shipments and operations in major LNG hubs, US prices remained relatively stable due to the country's robust domestic production capabilities.
• The warmer spring outlook and record domestic production levels offset some of the supply risks, leading to a slight retreat in prices as heating demand started to ease with the end of the winter season.
• Geopolitical tensions and disruptions in the Persian Gulf region heightened foreign demand for US LNG, driving prices to a one-month high, with key Asian buyers turning to American gas amid the turmoil in traditional supply routes.

20.02.2026 - GAS Commodity was down 5.7%

• The bearish movement in Natural Gas prices today can be attributed to:
• Warmer spring outlook and record domestic production offsetting ongoing supply risks from the Middle East conflict.
• Smaller than expected inventory withdrawals indicating fading heating demand as winter comes to an end.
• Limited impact on US prices from disruptions in the Middle East due to sufficient domestic production levels meeting demand.
• Global energy costs decreasing and reduced price pressure on American fuel following political statements hinting at a potential end to hostilities.

08.03.2026 - GAS Commodity was down 5.1%

• Natural gas prices experienced a bearish movement due to mild spring weather leading to lower demand and increased storage levels.
• The ongoing tensions in the Middle East, particularly with Iran, have added uncertainty to global energy markets, but US natural gas prices have remained relatively stable due to strong production and ample inventories.
• Despite occasional rebounds in prices, the overall trend remains bearish as warmer weather forecasts and expectations of rising inventories continue to weigh on the market.
• The recent fluctuations in natural gas prices highlight the importance of monitoring both domestic factors like production levels and storage data, as well as international developments that could impact energy markets.

23.02.2026 - GAS Commodity was down 5.1%

• Natural gas futures dropped by over 5.5% to $2.92 per MMBtu due to milder weather forecasts leading to weaker demand for heating and power generation.
• Prices were also pushed lower by a broader energy selloff after mentions of efforts to end the war in Iran, causing declines in oil and energy futures.
• The ample inventories and limited short term exposure to global markets, along with geopolitical tensions, have contributed to the relative stability of US gas prices despite ongoing conflicts.
• The bearish movement was further worsened by a 35 billion cubic feet increase in storage, indicating a decrease in heating demand as the winter season comes to an end.

09.02.2026 - GAS Commodity was down 6.9%

• Natural gas prices experienced a bearish movement today due to rising domestic supply, softer export demand, and warmer-than-normal weather forecasts in the US.
• The conflict in the Middle East and the potential disruption of global gas supplies contributed to short-term price spikes in natural gas, but the overall market sentiment was bearish due to ample domestic production and export capacity constraints.
• Despite the global supply risks and geopolitical tensions, the bearish trend in natural gas prices was driven by a combination of increased production in the Lower 48 states, reduced export demand, and favorable weather conditions impacting heating needs in the US.
• The recent price volatility in natural gas reflects the delicate balance between supply and demand dynamics, as well as the ongoing geopolitical uncertainties affecting global energy markets.

09.02.2026 - GAS Commodity was down 5.2%

• Natural gas prices saw a strong bearish movement today despite hitting a 4-week high recently.
• The jump in US natural gas futures was driven by global supply risks due to the escalating conflict in the Middle East, raising fears of disruptions to global gas supplies.
• The uncertainty surrounding the timeline for restoring full operations at QatarEnergy’s Ras Laffan facility and the ongoing conflict in the region have intensified worries about a potential supply shortfall, leading to a bearish market movement for Natural Gas today.
• Geopolitical tensions and supply concerns continue to play a significant role in shaping the volatility of Natural Gas prices, highlighting the importance of monitoring global events for potential market impacts.

09.02.2026 - GAS Commodity was down 9.0%

• Natural gas prices experienced a strong bearish movement today due to several factors:
• The prospect of a swift de-escalation in a specific region easing the risk premium across the energy complex.
• Political statements suggesting a resolution to a conflict and the resumption of traffic in a strategic waterway, reducing concerns about supply disruptions.
• Unseasonably warm weather forecasts reducing heating demand.
• Ongoing infrastructure outages at a specific LNG terminal in Texas trapping supply within the domestic market and limiting the influence of global scarcity on local prices.
• Despite a significant weekly storage withdrawal, high supply levels and reduced export capacity have led to domestic natural gas prices decoupling from global price volatility.

24.02.2026 - GAS Commodity was down 5.1%

• Natural gas futures experienced a bearish movement due to warmer weather forecasts leading to reduced heating demand.
• Prices were also impacted by broader energy selloffs and geopolitical tensions, such as talks about ending conflicts in certain regions, influencing oil prices and energy futures.
• Global supply conditions played a role in the market movement, with disruptions in LNG exports from key regions due to escalating tensions in certain areas.
• Despite regional oversupply, tightening global markets amid geopolitical events and potential changes in oil sanctions could stabilize prices in the near term.