Daily Natural Gas Report - November Futures (NGX26 @ 3.002) | 10.01.2026
Tim Beggans covers storage day for November, pinned near the daily pivot ahead of a +64 Bcf print. Also: Polo clouds cutting ERCOT solar and lifting gas share, PJM and MISO price spikes, the first real Northeast chill vs lingering Southwest heat, a bullish divergence on the winter–November spread, China telling its top importers not to resell LNG, EU/UK storage (Rough still empty, UK finally injecting), JKM January firming, Polo rain into the Texas Panhandle, a late-season Caribbean / Gulf watch, U.S. LNG with Golden Pass back near 583k, nuclear outages at 12 GW, and the E&P watch list.
Contract / levels:
November near 3.002, down ~2¢
Daily pivot ~3.017
First support ~2.975 (broken, then bounce back toward the pivot)
Winter–November spread showing bullish RSI divergence; gap-fill resistance near 81¢
Storage (today):
Consensus ~+64 Bcf
Last year +56 / 5-year average +80
Bearish vs last year, bullish vs the 5-year
NG Stock Watch List Oil & Gas EMP Sector
Market Cap 2-10B, High short float over 10%
BKV | CNX | CRGY | CRK | LB | MGY | MTDR | NOG
Timestamps
0:00 – Open: storage day; November just under $3
0:51 – Hourly pivot & failed push through first support
1:23 – ERCOT light on Polo clouds; gas >51% of fuel mix
2:01 – National grid (PJM, MISO) & fall maintenance
2:31 – U.S. models: Northeast 30s/40s vs Southwest heat
4:15 – 6-10 day & 8-14 day outlooks
4:35 – Winter–November spread divergence
5:15 – China blocks LNG resale by top importers
5:36 – EU storage 71.5%; Germany / UK lag
6:02 – JKM January +4%
6:14 – Europe weather into mid-October
6:37 – UK flows: no exports to NL/Belgium; injecting; Rough empty
7:30 – Asia weather
8:05 – Polo remnants into TX Panhandle; Caribbean / Gulf watch
9:11 – Ras Laffan quiet (tanker parked, not loading)
9:27 – U.S. LNG terminals (Golden Pass ~583k)
10:36 – Gulf convection; Atlantic systems
11:14 – Bay of Campeche hazard window (Oct 7–13)
11:40 – Saharan dust light
11:56 – Drought monitor; Polo rain help
12:18 – U.S. nuclear outages (~12 GW)
12:47 – Cold pool reaching the Pacific Northwest
13:16 – E&P watch list
13:34 – Recap & close
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