Daily Natural Gas Report - December Futures (NGZ26 @ 3.301) | 11.12.2026

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In today's natural gas update for Thursday, November 12, 2026, Elk Trading Company President Tim Beggans breaks down the spot December contract (NGZ26).

December is up at 3.301 (+8.6 cents, +2.67%), with an anchored VWAP at 3.430 as the next target — two closes above that level would point to a short squeeze, though it may be choppy getting there. Storage was pushed to Friday after Veterans Day, with expectations of +65 to +70 Bcf versus +44 last year and a +40 five-year average. On the hourly chart, December is above the daily pivot at 3.263 and just below first resistance at 3.349. ERCOT load is about 55,000 MW, with wind expected under 2,000 MW, renewables under 31,000 MW, and natural gas at 33% of the fuel mix (just over 16,500 MW). MISO hit $696, and US nuclear outages are at 16 GW. Colder air arrives mid-month, with a pattern change around the 26th. UK storage is at 37%, gas is 22% of the UK grid with wind at 39%, European storage is 71.6%, the January JKM contract is at $28.665, and Golden Pass is at TSQ 827,225. December closes the report at 3.301, up 8.6 cents or 2.67%.

NG Stock Watch List Oil & Gas EMP Sector

Market Cap 2-10B, High short float over 10%

CNX | CRGY | CRK | LB | MTDR | NOG

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Timestamps

00:00 – Good Morning Natural Gas

00:14 – December (NGZ26) & Anchored VWAP at 3.430

01:16 – Hourly Chart & Pivots

01:52 – ERCOT

02:41 – Power Markets

02:56 – 6–10 & 8–14 Day Outlooks

03:33 – US Forecast Maps

05:18 – Anomaly Map

05:57 – US Nuclear Outages

06:15 – February Contract

07:21 – Europe Weather

07:48 – Norway

08:02 – UK Storage

08:39 – UK Power Grid

08:52 – European Storage

09:26 – JKM

09:58 – Asia Weather

10:42 – Seoul, Shanghai & Tokyo

11:29 – Cove Point LNG

11:59 – US LNG Terminals

12:43 – Teleconnections

13:29 – Jet Stream Maps

13:52 – Arctic Sea Ice

14:11 – Snow and Ice Cover

14:34 – E&P Stocks

14:52 – Recap & Close

15:27 – End Card