Natural gas futures for November delivery settled near $3.035 per MMBtu on October 2, 2026, after rebounding from an intraday low of $2.912 amid mixed regional weather and pipeline constraints. Mild early-October temperatures have capped heating and power-sector demand while Lower 48 output remains elevated above 109 Bcf per day, supporting ample storage inventories that sit near the upper end of the five-year range following a 64 Bcf injection reported by the EIA. Traders are monitoring the potential restart of the Cove Point LNG export facility and any shift toward cooler Midwest forecasts that could tighten near-term balances. Forward curves reflect subdued winter expectations, with limited premiums in calendar spreads despite LNG export growth signals.