Henry Hub natural gas futures (NATGAS) are rising over 5% today, reversing yesterday’s sell-off. It’s difficult to pinpoint a single driver behind the rally, but several factors may be contributing. Among them is the upward momentum in European gas prices, supported by the ongoing conflict in Ukraine—especially after the recent Trump–Putin conversation—which clearly does not suggest a return of Russian gas supplies to Europe.
Additionally, limited supply from Norway, the region’s main gas exporter, is adding pressure. Due to maintenance work, Norwegian gas flows are declining today and are almost certain to drop further tomorrow, which supports the current bullish sentiment. On the other hand, U.S. weather forecasts provide no major catalyst, and recent NOAA updates to weather maps actually favor lower gas prices—a scenario the market was pricing in yesterday.
NATGAS (H1 interval)
Looking at the short-term gas chart, we can see that the path of least resistance is downward, and prices are currently testing that level near $3.26. A break above $3.27 could signal an attempt to return toward the $3.40 area and potentially mark a trend reversal.
Source: xStation5
Wall Street loses momentum? 🚩 Highlights from the S&P 500 earnings season
US Open: Week of Three Forces. Iran AI and Fed Put Markets to the Test!
⚫Brent Oil Hits Highest Since April 13
Chart of the day: OIL (27.04.2026)
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
