Natural Gas Price Forecast & Predictions

December 2026 natural gas futures remain under pressure as warm weather and an 80 Bcf storage build keep sellers in control. The build exceeded the 72 Bcf consensus and 77 Bcf five-year average. Production of 114.5 Bcf/d and light demand of 73.0 Bcf/d reinforce adequate supplies despite LNG flows near 20.8 Bcf/d.

April 2027 futures remain bearish below the 50-day moving average, with support at $2.366, $2.237 and $2.173. December 2027 futures retain a neutral long-term view, but El Niño-related warmth could reduce heating demand, limit storage withdrawals and keep supplies ample. A move through $2.528 to $2.571 would signal easing selling pressure.

A colder weather pattern is the quickest reason to question the bearish nearby outlook. A smaller-than-expected storage build, lower production or stronger LNG flows would improve the case for buyers. Deferred contracts would strengthen if the market begins pricing a tighter post-winter balance rather than adequate supply and milder weather.