What's New in Natural Gas - November Futures (NGX26 @ 3.130) | 10.12.2026
Tim Beggans covers four headlines: expanding Iran hostilities (ballistic missile attack on a Riyadh airport), demand destruction from two U.S. hurricanes, Cove Point LNG back online, and Golden Pass hitting a new feedgas high. Also: November testing the 13-day EMA after a GFS cold shot that the Euro model did not confirm, hedge funds still short roughly 145k contracts, a widening Jan–Dec Super El Niño premium, EU storage at 73.6%, TTF January firming on Hormuz risk, Isaias through the Southeast and Rachel into Utah, Freeport back stable near 1.75, Golden Pass over 640k, quiet Gulf, early Arctic ice, and an updated E&P watch list that now includes Range Resources.
Top News for Natural Gas:
1.) Iran war hostilities expand
2.) Demand destruction from two hurricanes
3.) Cove Point LNG back online
4.) Golden Pass LNG ramps to new demand high
Contract / levels:
November near 3.130–3.131, down ~8.9–9¢ (~2.8%)
RSI turned down
Testing the 13-day EMA ~3.121 — more downside if that breaks
Daily pivot ~3.193
First support ~3.139 now acting as resistance
Hourly RSI trying to turn up
COT: managed-money shorts ~145,000 contracts (some covering last week)
Jan–Dec spread ~44.2¢ and widening (normal winter ~25¢)
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 | RRC
Timestamps
0:00 – Open & top four headlines
0:42 – November fade; GFS cold vs Euro disagreement
1:14 – Testing the 13-day EMA
1:28 – Hourly pivot & first support as resistance
2:03 – COT report: ~145k managed-money shorts
2:24 – Jan–Dec spread widening under Super El Niño
2:57 – 6-10 day & 8-14 day outlooks
3:36 – Euro model: Calgary cold into Denver and the Northeast
5:00 – GFS much colder — watch for agreement
5:21 – Europe weather
5:59 – EU storage 73.6%; Germany / UK lag
6:49 – TTF January +2.5% on Hormuz risk
7:24 – Isaias, Rachel, Simon, and Pacific systems
8:22 – Asia temps & weather map
9:24 – Ras Laffan idle; ship attack off Oman
9:49 – U.S. LNG (Freeport stable ~1.75; Golden Pass new high ~642k)
10:54 – Gulf quiet; Cape Verde 20%
11:20 – Drought monitor; hurricane & Rachel rain help
11:43 – Nuclear outages (data stale)
12:06 – Teleconnections (AO / NAO turning negative)
12:22 – Arctic cold & early ice formation
13:23 – E&P watch list (RRC added)
13:56 – Recap & close
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