US Natural Gas futures extend rally on cooler forecasts – ING

US Natural Gas Dec’25 futures extended their rally, rising 3.7% yesterday and gaining further this morning, ING's commodity experts Ewa Manthey and Warren Patterson note.

Storage rises 74 bcf, above five-year average

"US Natural Gas Dec’25 futures rallied 3.7% yesterday, and the strength has continued in early morning trading today. The move higher comes despite US Natural Gas inventories rising by 74 bcf over the last week, in line with expectations, and above the 5-year average increase of 67 bcf."

"Instead, the market appears to be focused on forecasts for cooler weather, which should prove supportive of demand."

Oct 31, 2025

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