Natural gas near $3 again: record output forecast sets up a holiday-short week
U.S. natural gas futures closed at $3.243 per mmBtu Friday, the highest since Feb. 6, despite being down 5% for the week. The EIA now forecasts record output of 120.8 bcfd in 2026. Waha Hub cash prices in West Texas stayed negative for a seventh day due to pipeline constraints. The next market catalyst is the EIA storage report, due Feb. 19.