The November 2026 natural gas contract on the NYMEX was trading down 1 cent at $3.11 in the latest update, according to NRG Energy's Daily Market Update dated October 19, 2026. The November 2026 crude oil contract was down $0.91 at $100.50 in the same update. The natural gas prompt month finished the week down 10 cents, settling at $3.12 on Friday.
The calendar 2027 strip lost 8 cents week over week to close at $3.13, while the calendar 2028 strip was down two cents at $3.67. The outer calendar strips were flat or posted a gain of one cent, NRG reported. NRG described supply fundamentals as strong.
Dry natural gas production continues to hold around 111 Bcf/d, and month-to-date supply is averaging nearly 4.1 Bcf/d above last year. Total demand is 5.8 Bcf/d above last year's month-to-date levels, although it has eased over the past several days. LNG feedgas remains a key source of demand, holding above 21 Bcf/d since Friday and averaging about 2.0 Bcf/d higher than last year on a month-to-date basis.
Weather remains a central theme. NRG expects mild autumn conditions over the next five days for much of the Central U.S. and Midwest, with above-normal temperatures. Conditions are forecast to be normal-to-cooler toward the East Coast, where a developing offshore system is being monitored.
The current forecast keeps the low pressure offshore. NRG's fundamentals summary lists near-record gas production and a forward pricing curve that is backwardated among the bearish factors. Healthy storage, record-high LNG exports, growing demand from data center load growth, and geopolitical factors and global supply swings are cited as bullish factors.
In the day-ahead market, next day on-peak power prices for October 19, 2026 settled at $89.48 at PJM West Hub, $85.76 at MISO Indiana Hub, $53.43 at NYISO Zone G, $36.07 at ISO-NE Mass Hub, $36.81 at CAISO SP15 and $22.88 at ERCOT North Hub, according to NRG. According to the EIA natural gas storage report cited by NRG, total storage stood at 3,567 Bcf, up 67 Bcf from the previous week's 3,500 Bcf. This is 45 Bcf, or 1.3%, above the five-year average of 3,522 Bcf, and 143 Bcf, or 3.9%, below the 3,710 Bcf recorded a year earlier.
NRG notes that the pace of weekly injections or withdrawals relative to the five-year average can exert upward or downward pressure on prices. Source: NRG Energy, Inc., Daily Market Update, October 19, 2026. NRG states that its pricing references are based on settled NYMEX prices and that the information is provided for informational purposes only.
Source: nrg.com