Daily Natural Gas
Natural gas futures fell sharply, with the chart showing a breakdown toward $2.90 support on rising volume. October contracts failed to hold above $3.00, and price is now approaching key support at $2.887.
A daily close below that level could trigger further selling toward $2.65. Momentum has turned bearish, and sellers are clearly in control short term.
Fundamentals are driving the move lower. LNG feedgas deliveries dropped to 14.6 Bcf/day—down 5.5% week-over-week—while production remains elevated at 107 Bcf/day.
Storage sits 5.6% above seasonal norms, and the upcoming EIA report is expected to show a 69 Bcf injection.
Soft power demand, reflected in a 7.8% drop in electricity generation, further undermines support from late-season heat.
Until LNG demand rebounds or production slows, downside pressure remains the dominant theme.
More Information in our Economic Calendar.
