Natural gas futures fall after EIA storage build

The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day. S. Gulf coast, shutting in production.

The market reacts less to proclamations from President Trump regarding the status of negotiations with Iran and a pause on attacks until after the midterm elections on Nov. 3. Even though Trump's comments would suggest that negotiations are progressing, their effect on price movement appears to have weakened. "The market has heard it all before, and the pullback just isn't what it was in the past," says Robert Yawger of Mizuho Securities USA in a note.

28 a barrel. 168 per mmBtu. Natural gas slid in afternoon trading after the EIA released its latest natural gas storage numbers. The agency reported that 85 billion cubic feet were added to natural gas stocks for the week ended Oct.

2. That's more than the 79 bcf that analysts surveyed by The Wall Street Journal anticipated would be added. "The year-on-year deficit remains, though the larger than expected build has taken some force out of the rally that preceded the release," says Gelber & Associates in a note. Even so, the firm adds, the wrath of Hurricane Isaias may shake up the demand picture more than expected.

38 a barrel. S. would not attack Iran before the midterm elections are held on Nov. 3.

Escalating fighting in the Middle East has been a factor pushing up crude oil prices in recent sessions. S. dollar, which has strengthened on rising Treasury yields, is flat. com) 1159 ET - Qatar's LNG exports are likely to remain constrained in the near term, but a sustained recovery in Hormuz transits could trigger a sharp increase in flows next year as the expansion of the North Field offsets lasting damage to existing capacity, Capital Economics' Jason Tuvey says.

Current indicators suggest exports remain very low, although the data may understate flows as some tankers appear to be switching off their transponders. A sustained recovery in transits is expected from early next year, according to the economist. Damage to the Ras Laffan facility has knocked out around 17% of Qatar's LNG capacity for three to five years. However, the first train of the North Field East project is reportedly ready to start, Tuvey says, raising capacity by 43%.

The second and third phases, due by 2030, are expected to lift capacity by a further 30%. com) 1127 ET - El Niño is getting stronger, says the NOAA's Climate Prediction Center. It's now more than likely that the system will continue to be a stronger-than-usual condition into January through March 2027, the agency says in an update. This widens the window for when unusually-severe weather events may take place due to El Niño.

"With an event of this magnitude, the chances of experiencing impacts consistent with El Niño are larger, though not guaranteed," says the Climate Prediction Center in its update. The agency adds that in some places, El Niño is right now raising water temperatures by as much as 4 degrees Celsius in areas of the equatorial Pacific Ocean - creating weather patterns that are more-severe departures from what's usually seen in the winter months. com) 1115 ET - Gold futures pick up from yesterday's two-month low with the market digesting the minutes of the Federal Reserve's latest meeting.

"Most policymakers judged another increase would likely be appropriate by year-end, keeping the yellow metal under pressure," Critical Metals CEO Tony Sage says in a note. S. " Further Fed tightening could keep gold at risk, while demand from central banks may limit losses, he adds. 10 a troy ounce.

62 a troy ounce. S. natural gas futures give up gains as a weekly inventory build comes in above expectations. Gas in underground storage increased by 85 billion cubic feet to 3,500 Bcf in the week ended Oct.

2, the EIA reports. The increase was below the five-year average for the week of 96 Bcf, but above the 79 Bcf estimate in a WSJ survey of analysts. Inventories stood 68 Bcf above the 2021-2025 average, compared with a surplus of 79 Bcf the previous week. 177/mmBtu.

com) 1047 ET - A strong El Nino could provide some relief for Europe's natural-gas market over the coming months, says Capital Economics' David Oxley. Warmer-than-average temperatures would reduce heating demand from households and small businesses, lowering overall gas consumption. At the same time, stronger winds could increase electricity generation from wind power, further reducing reliance on gas-fired power generation. This would be particularly helpful given that European gas storage levels are currently around 18 billion cubic meters below their five-year average, according to the economist.

Lower demand could therefore reduce competition with Asia for limited global LNG supplies and limit the risk of a sharp increase in gas prices. Capital Economics forecasts the Dutch TTF contract, Europe's benchmark, to end the year at 80 euros a megawatt-hour, broadly in line with current levels. com) 1045 ET - Celestica's 3Q will likely top expectations, says CIBC's Todd Coupland, who sees improving visibility and a strong slate of big tech customers. " He also sees additional upside from hyperscalers tied to the AMD Helios platform.

For 2027, he sees OpenAI and AMD Helios to each contribute more than 10% of revenue. 6T networking programs starting in late 2026. S. natural gas futures stretches into a fifth session with the market expecting an eighth consecutive below-average inventory build to further reduce the storage surplus over the five-year average.

m. ET. Analysts in a WSJ survey predict a 79 Bcf injection. The market is also watching Hurricane Isaias in the Gulf, which is expected to shut in some natural gas production but could also disrupt LNG exports.

268/mmBtu. S. S. Gulf coast, shutting in production.

S. military strikes against Iran, and President Trump's stated preference against a deal combine to paint a volatile geopolitical backdrop," says Nikos Tzabouras of Tradu. But the picture isn't "uniformly bullish," he adds, noting gradual increases in supply and the G7 commitment to release additional reserves. 76 a barrel.

P. Morgan analysts write. The French electrical equipment supplier raised its 2026 guidance in July, and now forecasts constant currency sales growth of 16%-19% compared with 10% to 15% previously. 00 euro target price.

95 euros, but up around 10% over the year-to-date. com) (END) Dow Jones Newswires October 08, 2026 15:55 ET (19:55 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.