Natural gas holds gains ahead of EIA report as US. heat supports demand
Natural Gas remains in a moderately bullish range, supported by expectations of hotter weather across the US in late June and July. This should increase gas demand for power generation and air conditioning.
According to the EIA June outlook, Henry Hub prices are expected to average around $3.34 per MMBtu in the second half of 2026, while US LNG exports may rise to 17.2 Bcf/d in 2026.
Inventories and EIA report
The latest confirmed EIA data from June 18 showed a 73 Bcf storage build for the week ending June 12. Total inventories reached 2,759 Bcf, which is 151 Bcf above the five-year average. Today, June 25, the market is waiting for the new EIA report, with consensus near +70 Bcf. A smaller-than-expected injection would strengthen price support, while a larger build could trigger profit-taking.
Technical picture from the chart
On the 4-hour chart, Natural Gas is trading near $3.32 and remains above short-term moving averages, keeping the upward impulse intact. The nearest resistance zone is around $3.35-3.40. A breakout above this area would open the way toward $3.50. Support is shifting to $3.20-3.22, with the next important area near $3.10.
Conclusion
In the short term, the balance remains constructive. Heat and power-sector demand support buyers, while rising production and still-comfortable inventories limit a sharp rally. The base scenario is range trading between $3.20 and $3.40, with a possible test of $3.50 if the EIA report is weak or heat forecasts intensify. A break below support, as noted in Natural gas holds above support amid heat and ample inventories, would increase bearish pressure.
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