Natural gas futures on the New York Mercantile Exchange (NYMEX) faced downward pressure midday on Friday, October 23, 2026. Traders appeared more focused on weak near-term weather demand rather than strong liquefied natural gas (LNG) activity, leading to a decline in prices.
November futures contracts dropped by 13.6 cents, settling at $2.660 per million British thermal units (MMBtu) around noon ET. This decline reflects broader trends in the physical market, where benchmark prices were also lower on the week.
The shift in trader sentiment highlights the delicate balance between supply and demand factors influencing natural gas prices. While LNG exports remain a key driver of demand, the lack of immediate weather-related demand has put pressure on prices.