Natural Gas Market Update 11/24/25

Tony Zelinski
2 minutes ago
1 min read

Natural Gas Futures 11-24-25

NYMEX Natural Gas futures rise as colder forecasts and strong LNG demand tighten balances heading into Thanksgiving week.

Front-Month NYMEX Contract (December 2025)

• Friday’s Close: $4.315/MMBtu

• Globex Open (7:00 AM): Up $0.110

• Intraday High: $4.445/MMBtu

• Trend: Bullish momentum continues after last week’s 14 Bcf withdrawal and colder model revisions

🗄️ Storage & Fundamentals

• EIA Withdrawal (week ending Nov 14): –14 Bcf

• Total Working Gas: 3,946 Bcf

• YoY Comparison: –23 Bcf

• 5-Year Average: +146 Bcf

• Dry Gas Production: 110.0 Bcf/day (+8.1% YoY)

• LNG Feedgas Demand: 17.85 Bcf/day (Plaquemines ramping up)

🌡️ Weather & Demand Drivers

• Forecasts (Nov 24–28):

• East & Midwest: Colder-than-normal

• West & South Central: Mild

• Heating Degree Days (HDDs): Rising in Northeast and Pacific Northwest

• Consumption: California demand up 19% WoW; Seattle HDDs hit 95

📈 Market Outlook

Natural gas futures are supported by colder weather, strong LNG exports, and the first storage withdrawal of the season. Traders are watching for a breakout above $4.50/MMBtu, with technical resistance near $4.60. Volatility remains high, and weather model shifts will continue to drive sentiment into December.

Natural Gas Futures