With contract settlement and the end of peak summer fast approaching, natural gas futures were off to a sluggish start on Monday morning. Next-day Henry Hub spot prices were averaging $2.739 as of Monday morning, per Intercontinental Exchange data, down from NGI’s Friday Henry Hub average of $2.860. Rau noted that managed money accounts, “the so-called ‘smart money,’ have had an excellent track record riding Henry Hub prices lower since mid-February 2025. As for the technical outlook for futures, Liquidity Energy analyst Mark Schaefer said that, “A close below the two-week range low at 2.810 would confirm the downside breakout. “However, follow-through may be limited, as momentum remains deeply oversold and has crossed higher, indicating that upside momentum is beginning to build.”