U.S. natural gas prices face downward pressure from record-high storage levels and robust domestic production as the injection season concludes. EIA data project working gas inventories reaching 3,969 billion cubic feet by October 31, 2026—5% above the five-year average—with Henry Hub spot prices trading near $2.95 per million British thermal units amid a 64 billion cubic foot weekly build. Strong output growth in the Permian and Haynesville basins, combined with mild early-October weather forecasts, limits near-term demand while LNG export maintenance caps feedgas needs. The next EIA Short-Term Energy Outlook on October 6 and any shift toward colder conditions could influence end-of-month pricing dynamics, though current fundamentals favor continued oversupply.