A technical ceiling near the $3.00/MMBtu level kept front-month natural gas futures in check Tuesday as the calendar turned to September and meteorological autumn began.

The market continued to face resistance as traders weighed technical levels against a mixed fundamental backdrop. Even with the new month underway, prices were still reacting to a familiar combination of weather-driven demand signals, LNG export expectations and production that has remained near record highs, leaving the $3.00 area as a closely watched reference point.

At a Glance

• Technical resistance near $3.00
• Support close to $2.777
• Mixed fundamental backdrop

Related Tags

• Bollinger Band Analysis
• LNG
• Henry Hub
• natural gas
• natural gas production

Kevin Dobbs

Kevin Dobbs joined the staff of NGI in April 2020. Prior to that, he worked as a financial reporter and editor for S&P Global Market Intelligence, covering financial companies and markets. Earlier in his career, he served as an enterprise reporter for the Des Moines Register. He has a bachelor's degree in English from South Dakota State University.

Related Coverage

US LNG Exports Surge 23% — So Why Is Henry Hub Still Below $3?

Despite a substantial increase in U.S. LNG output this year, benchmark Henry Hub prices have barely moved.

Natural Gas Prices Stumble in Early Futures Market Action

Prompt-month natural gas futures struggled to sustain momentum Tuesday morning as weather forecasts and LNG demand leaned bullish, while firm supply acted as a counterweight.

Southeast Natural Gas Cash Vaults Past $7 as Western Spike Deflates

Physical natural gas prices surged across the Gulf Coast and Southeast Monday as air conditioning demand under an entrenched heat dome, together with recovering LNG exports, lifted hubs from Louisiana to Florida.

Natural Gas Futures Edge Higher as September Reloads With More Heat

Natural gas futures moved higher Monday as forecasts put September among the hottest on record, with recovering LNG demand and shrinking storage surpluses offset by production running near record highs.

Europe’s Fight for LNG Puts TTF Back on the Upswing

European natural gas prices spiked Monday as competition with Asia for LNG cargoes intensified amid renewed clashes between the United States and Iran.

Weekly Natural Gas Spot Prices Advance as Southwest Heat, Supply Disruptions Fuel Competition

The physical natural gas market advanced in the final full week of August, supported by scorching heat across the southern United States and supply interruptions that temporarily stalled flows to the Southwest and Southern California.

By submitting my information, I agree to the Privacy Policy, Terms of Service, and to receive offers and promotions from NGI.

Already an NGI subscriber? Sign in

Scan this QR code with WeChat to share this article.