December Natural Gas Futures Priced 37 to 42 Cents Above November

Latest CME settlement prices show Henry Hub December 2026 natural gas futures priced about 37 to 42 cents per million British thermal units (mmBtu) above November 2026 contracts. Traders call this contango: winter delivery priced at a premium to the shoulder-season contract. The spread reflects current pricing, not a forecast. Whether it holds depends on winter temperatures.