What's New in Natural Gas - December Futures (NGZ26 @ 2.927) | 11.02.2026
Top News for Natural Gas:
1.) US NG Storage on track for 3.90 TCF
2.) World holds its breath on Iran
3.) Qatar moves to acquire global LNG supply portfolio
4.) ST LNG (offshore TX) wins port license
In today's natural gas market update for Monday, November 2, 2026, Elk Trading Co President Tim Beggans breaks down the top news for natural gas and what's driving the spot December contract (NGZ26).
December futures are getting a relief rally, up 2.9 cents to 2.927, as the RSI comes off an oversold condition. With speculators near record shorts, there's potential for a small squeeze. Weather is still the swing factor. The 6–10 and 8–14 day outlooks stay above normal for most of the US through November 15. The spaghetti plots show a dip in the jet stream that could bring cooler air into Chicago and New York. Overseas, EU storage is 74.6% full and Germany is down to 61%. UK storage is just over 40% full, and JKM is up 1.77%. We also track US LNG terminal flows, including ongoing power-feed issues at Freeport, and 18.4 GW of US nuclear capacity offline for outages, maintenance and refueling.
Can cooler weather and near-record speculative shorts keep December's relief rally going? Let us know your thoughts and price targets in the comments below!
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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
00:00 – Good Morning Natural Gas: Monday, November 2, 2026
00:12 – Top News: Storage at 3.90 TCF, Iran, Qatar LNG Portfolio & ST LNG Port License
00:43 – Spot December Contract (NGZ26): Relief Rally, RSI & Near-Record Spec Shorts
01:13 – Hourly Chart: Daily Pivot (2.885) & First Resistance
01:42 – Winter Strip Through March: RSI Oversold & Bounce
02:23 – 6–10 & 8–14 Day Outlooks: Warmth Through November 15
02:51 – ERCOT: Wind, Solar & Natural Gas Share of the Fuel Mix
03:32 – National Grid: SPP Volatility & PJM's $2,000 Spike
04:04 – US Weather Forecast Maps: Gulf Coast Stays Warm
05:20 – Temperature Anomaly Maps
05:50 – Global Map: Cold Air Trapped in Canada, the Arctic & Siberia
06:14 – EU Storage (74.6%) & Germany (61%)
06:43 – EU Storage by Country
07:08 – Europe Weather Forecast: Cold Start, Then Warm
08:01 – UK: Storage (~40% Full), Supply & Power Grid
09:06 – Asia Weather: Storm Systems & India Rain
09:56 – JKM Price Action & US–Iran Negotiations
10:24 – Asia Temperature Forecast: Cold Start for the Koreas & Japan
10:59 – LNG Canada (Kitimat)
11:24 – US LNG Terminals: Cameron, Freeport Power Issues, Creole Trail, Corpus Christi, Calcasieu, Plaquemines & Golden Pass
12:43 – US Nuclear Fleet Outages (18.4 GW)
12:57 – Teleconnections (AO, NAO, PNA)
13:31 – Spaghetti Plots: Jet Stream Dip Toward Chicago & New York
15:09 – North Pole Sea Ice & Snow Cover
15:43 – Drought Map: Super El Niño, Where's the Rain?
16:10 – Oil & Gas E&P Stocks: High Short Float Names
16:41 – Recap: December Up 2.9¢ to 2.927 & Close
17:16 – End Card
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