Natural Gas Price Forecast & Predictions

November natural gas futures are sitting below the $3.087 retracement level after Friday’s break and Sunday’s test of $3.029. The 50-day moving average at $3.070 is holding for now, but the mild forecast through late October keeps the short-term bias bearish. Early estimates for a 75 Bcf to 78 Bcf storage build do not give buyers much to work with heading into this week’s EIA report. November needs to reclaim $3.087, then $3.146, to slow the selling pressure. A sustained failure under the 50-day moving average would put the $2.912 to $2.896 main-bottom area back in front of the market.

Will Natural Gas Go Up or Down This Year?

April 2027 futures are carrying the weaker part of the curve. The contract broke through the October low at $2.575 and fell to $2.535, while remaining below its declining 50-day moving average at $2.732 and 200-day moving average at $2.983. The next decision is whether sellers can hold the break under $2.575. A colder forecast, lower production, or stronger LNG demand could bring buyers back, but April has to retake $2.712 and then the 50-day average before the winter trade improves materially.

November 2027 futures are also under pressure, but the longer-term view remains neutral while the contract trades between the October low at $3.427 and the September high at $3.601. The contract is below its 50-day moving average at $3.544 and 200-day moving average at $3.684, leaving sellers with the near-term edge inside that range.

What Would Change Your View?

A colder shift in the weather, a weaker production number, stronger LNG flows, or a string of larger-than-expected storage draws would challenge the bearish near-term case. November must retake $3.087 and $3.146 before buyers can make another run at $3.264. April needs to reclaim $2.712 and the 50-day moving average at $2.732 to show the break through $2.575 has failed. November 2027 needs to hold $3.427 and recover the 50-day moving average at $3.544 to improve the long-term outlook.