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Warmer Forecasts Trim Early Winter Bid, Weigh on Natural Gas Forward Prices

Natural Gas Intelligence · last updated

Natural gas forward prices lost ground during the Oct. 23–29 trading period as weather models pared back November heating demand expectations, reversing part of a recent rally.

Line chart showing NGI’s El Paso Permian forward fixed price curve for natural gas through 2027, with prices fluctuating between $1.00 and $4.00 per MMBtu. Prices dip in mid-2026 before peaking above $4.00 in early 2027 and then easing toward $3.00 by late 2027.

At A Glance:

  • Warmer forecasts weigh on forward prices
  • Permian forwards retreat after brief rebound
  • California hubs buck broader declines