Daily Natural Gas Report - November Futures (NGX26 @ 2.774) | 10.22.2026
Tim Beggans covers storage day with November still under pressure from mild temperatures and Freeport volatility, though a possible bullish candlestick is forming. Also: expectations near +82 Bcf versus last year +86 and the five-year +87, open interest above 222k with less than a week to expiration, heavy put open interest at the 2.75 strike, light ERCOT wind supporting gas share, quieter power markets, warm 6–10 and 8–14 day outlooks, a Nov–Dec spread testing the 50-day, UK net withdrawals with Rough still empty, EU storage at 74.6%, Champion toward Taiwan then Japan, Josephine staying offshore, Golden Pass near 788k, nuclear outages at 19.7 GW, and a mostly red E&P tape.
Contract / levels:
November near 2.774–2.784, down ~1.6–6 ticks (~0.2–0.6%)
Below daily pivot ~2.853
Came off oversold; mildly positive overnight but still slightly negative
Possible bullish candlestick if it closes green — could mark a short-term bottom
Open interest 222,433; less than a week left
Put open interest heavy at the 2.75 strike (~60k) and $3 strike (~45k)
Storage (today):
Expected ~+82 Bcf
Last year +86 / 5-year average +87
Bullish versus both if the print stays light (need below 80 to really kick it)
NG Stock Watch List Oil & Gas EMP Sector
Market Cap 2-10B, High short float over 10%
BKV | CNX | CRGY | CRK | LB | MTDR | NOG
Timestamps
0:00 – Open: storage day, mild weather pressure
0:51 – Daily chart: possible bullish candlestick
1:07 – Hourly below pivot; need a light storage print
1:40 – Open interest 222k; volatility ahead of expiration
2:00 – Put open interest (2.75 and $3 strikes)
2:28 – ERCOT: light wind, gas ~46% of fuel mix
2:57 – National grid quieter (MISO spike)
3:25 – 6-10 day & 8-14 day outlooks still warm
3:52 – Nov–Dec spread testing the 50-day
4:28 – Euro model: chimney warmth into early November
5:09 – Europe weather mild
5:40 – UK flows: net withdrawing; Rough still empty (~46%)
6:28 – EU storage 74.6%; Germany / UK lag
7:12 – JKM firming on cooler Asian weather
7:35 – Asia models: Mongolia cold into Korea / Japan
8:16 – Champion toward Taiwan then Japan
8:56 – Asia and U.S. temps
9:25 – Hormuz quiet for two days; LNG Canada loading
10:04 – U.S. LNG (Freeport unstable; Golden Pass ~788k)
10:58 – Nuclear outages (~19.7 GW)
11:12 – Josephine stays offshore
11:49 – Teleconnections: cold still locked in the Arctic
12:36 – Arctic ice (update pending)
12:53 – Stratospheric warming watch
13:17 – E&P watch list (mostly red)
13:38 – Recap & close
Comments