Natural gas futures (HH) surged above the $4.00/Million Btu price bench with the onset of colder weather during the week of October 27 to close at $4.12 on Friday (10.31.25). The 25% price increase in less than a week indicates strong demand for natural gas. Annual “heating season” started November 1 and continues to February 28.  Monday’s (11.3.25) gas contract trades above $4.25 indicates prices are continuing upward to test $4.50/Million Btu soon.

Friday's (10.31.25) weekly Active U.S. Onshore Total Rig Count lost four to close at 546. Oil development decreased by six units, natural gas activity gained four and miscellaneous lost two. The U.S. government will likely remain closed until after November 4th elections. Expect market volatility in the week as election results are tallied.