U.S. Natural Gas Futures Slip Ahead of Storage Data

A facts-only brief, written by a local AI model from this article in The Wall Street Journal, November 5, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.

U.S. natural gas futures retreated slightly to $2.955 per million British thermal units ahead of a scheduled Energy Information Administration report expected to reveal a storage build of 81 billion cubic feet, significantly exceeding the five-year average of 61 billion cubic feet. Gary Cunningham of Tradition Energy noted that a build in the low 70s billion cubic feet range could mark a significant date for the market, while shifting near-term weather forecasts have caused gas markets to pause their upward momentum.

Background

• European natural gas prices fell 2% to 86.36 euros per megawatt-hour, hitting a two-week low as traders anticipated that U.S. midterm election results might pressure the administration to pursue diplomatic solutions regarding Iran.
• Market conditions in Europe remain tight due to constrained liquefied natural gas flows from the Middle East and the onset of storage withdrawals for the heating season.
• Analysts indicated that the pace of storage withdrawals and the recovery of Persian Gulf LNG exports will be key factors determining future price levels.

Read the full article at wsj.com

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