Natural Gas ($GAS) Commodity Forecast: Down 5.2% Today

What is Natural Gas?

Natural Gas is a widely used commodity for heating and electricity generation. Today, it experienced a significant bearish movement in the market.

Why is Natural Gas going down?

GAS commodity is down 5.2% on Jan 2, 2026 0:01

• Natural gas prices hit a 10-week low of $3.63 USD/MMBtu, the lowest since October 2025, as forecasts of above-normal temperatures next week led to reduced short-term demand.
• Despite the decline, natural gas is on track for a roughly 4% gain in 2025, supported by record LNG export flows, but today's drop was influenced by expectations of decreased demand due to warmer weather.
• The rebound in natural gas prices towards the $4 per MMBtu mark was supported by forecasts of a colder winter, driving utilities to pile on near-term futures. This rebound was further fueled by a decline in natural gas stocks and increased demand for US LNG from major foreign consumers.
• Overall, the bearish movement in natural gas prices today can be attributed to short-term weather forecasts impacting demand, despite the commodity's positive annual performance driven by various market factors.

GAS Price Chart

GAS Technical Analysis

GAS News

Natural gas Hits 10-week Low

Natural gas decreased to 3.63 USD/MMBtu, the lowest since October 2025. Over the past 4 weeks, Natural gas lost 24.71%, and in the last 12 months, it decreased 0.43%.

US Natural Gas Futures Drop, Set for Second Annual Gain

US natural gas futures tumbled to around $3.70 per million British thermal units, their lowest level since October 23, pressured by forecasts of above-normal temperatures next week. Heating Degree Days (HDDs), which measure energy demand for heating, are expected to fall from 439 on Tuesday to 413 on Wednesday, signaling reduced short-term demand. LSEG projected average gas demand in the lower 48 states, including exports, to edge lower from 137.8 bcfd this week to 134.5 bcfd next week, below earlier forecasts. Meanwhile, the EIA expects dry gas production to rise to 109.1 bcfd in 2026, up from a record 103.6 bcfd in 2023. Despite today’s decline, natural gas is on track for a roughly 4% gain in 2025, marking a second consecutive annual rise, supported by record LNG export flows. Looking ahead, the market is expected to remain buoyed in 2026 by rising demand for electrification and gas-fired power generation.

Natural Gas Holds Rebound after Storage Decline

US natural gas futures rose toward the $4 per MMBtu mark, holding most of the rebound since the two-month low of $3.76 from December 24th as forecasts of a colder winter supported the outlook for gas-intensive heating. Forecasts of colder weather across the whole country lifted the magnitude of heating degree days priced through the first two weeks of January, driving utilities to pile on near-term futures. Consistently, data from the EIA showed that natural gas stocks fell by 166 billion cubic feet on the week ending December 19th, aligned with expectations, but overshooting usual quantities for the season. With the drop, stocks fell below their five-year average despite record-high production levels, as growth in LNG export capacity and European sanctions against Russian gas increased the demand for US LNG from major foreign consumers. Front-month US natural gas futures were set to gain 10% on the year.

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Natural Gas Price History

17.11.2025 - GAS Commodity was up 5.0%

• The bullish movement in Natural Gas prices today can be attributed to a rebound from recent lows, driven by traders taking profits and strengthened LNG export flows.
• Despite the short-term price increase, the market outlook remains uncertain due to above-average temperatures forecasted across the US, potentially reducing heating demand.
• Record-high production levels and ample storage supplies continue to exert downward pressure on prices, indicating a delicate balance between supply and demand dynamics in the Natural Gas market.
• The fluctuating nature of Natural Gas prices underscores the importance of closely monitoring factors like weather patterns, production levels, and export trends for informed trading decisions in this volatile market.

31.11.2025 - GAS Commodity was down 7.4%

• Natural gas futures experienced a bearish movement today, dropping by 5.01% to $4.1871 per MMBtu.
• The decline can be attributed to forecasts of above-normal temperatures leading to reduced short-term demand for heating, as indicated by lower Heating Degree Days and a projected decrease in gas demand.
• Despite the drop, natural gas is still on track for a 4% gain in 2025, supported by factors like record LNG export flows and rising demand for electrification and gas-fired power generation.
• The market movement underscores the sensitivity of natural gas prices to weather patterns and demand outlook, highlighting the importance of supply-demand balance in shaping price trends.

02.00.2026 - GAS Commodity was down 5.2%

• Natural gas prices hit a 10-week low of $3.63 USD/MMBtu, the lowest since October 2025, as forecasts of above-normal temperatures next week led to reduced short-term demand.
• Despite the decline, natural gas is on track for a roughly 4% gain in 2025, supported by record LNG export flows, but today's drop was influenced by expectations of decreased demand due to warmer weather.
• The rebound in natural gas prices towards the $4 per MMBtu mark was supported by forecasts of a colder winter, driving utilities to pile on near-term futures. This rebound was further fueled by a decline in natural gas stocks and increased demand for US LNG from major foreign consumers.
• Overall, the bearish movement in natural gas prices today can be attributed to short-term weather forecasts impacting demand, despite the commodity's positive annual performance driven by various market factors.

22.11.2025 - GAS Commodity was down 5.2%

• Natural gas futures dropped to a seven-week low of $3.9/MMBtu due to forecasts of above-average temperatures across the US, signaling weaker heating demand.
• Record-high production levels and ample storage supplies continued to pressure prices, with Lower-48 output remaining steady around 109.7 Bcf/d in December.
• Despite rebounding briefly above $4 per MMBtu, the advance was short-lived as traders took profits and LNG export flows strengthened, but warmer weather forecasts and robust storage inventories weighed on prices.
• The overall sentiment remains bearish as the market faces challenges from reduced heating demand, strong production levels, and ongoing pressure from storage supplies, leading to a downward trend in natural gas prices.

18.11.2025 - GAS Commodity was down 5.2%

• Natural gas prices experienced a strong bearish movement today due to:
• Forecasts of above-average temperatures across the US leading to weaker heating demand.
• Record-high production levels and ample storage supplies putting pressure on prices.
• Strong US LNG export flows contributing to oversupply in the market.
• Despite a temporary 3% rise in prices due to profit-taking and strengthened LNG export flows, the overall trend remained bearish.
• The consistent decline in natural gas prices, reaching a seven-week low, was exacerbated by ongoing factors like weather forecasts pointing to reduced heating demand and robust US LNG exports to Europe.
• The market sentiment was further dampened by natural gas trading below $4 per MMBtu, reflecting the continuous weakening of prices amidst the prevailing market conditions.

23.11.2025 - GAS Commodity was up 9.3%

• Natural gas prices surged by 5% to $4.1631 USD/MMBtu, rebounding from a seven-week low, driven by:
• Near-record LNG export flows supporting the market.
• Average deliveries to major US LNG plants exceeding previous records, indicating strong export demand.
• Traders stepping in to take profits and LNG export flows strengthening, contributing to the price increase.
• Despite warmer winter temperatures potentially lowering domestic demand, winter demand is forecasted to outpace production, leading to withdrawals from storage to meet the shortfall.

11.11.2025 - GAS Commodity was down 7.5%

• Natural gas prices hit a 5-week low, dropping to $4.23/MMBtu, the lowest since November 2025. This decrease can be attributed to milder weather forecasts through December 23rd, easing demand pressure, and near-record production levels, leading to ample storage and weighing on prices.
• Despite the recent retreat, prices remain close to three-year highs, supported by strong export demand and cold weather in the US. However, profit-taking and the lack of Russian LNG in Europe by 2027 have impacted the market sentiment.
• US LNG exports surged 40% year-on-year in November, reaching 10.7 million tonnes, showcasing the strong demand for natural gas globally. This surge in exports, coupled with robust production levels, has contributed to larger-than-normal inventories and downward pressure on prices.
• The overall market movement reflects a combination of factors such as weather forecasts, production levels, export demand, and geopolitical developments, leading to the bearish trend in natural gas prices today.

16.11.2025 - GAS Commodity was down 5.0%

• Natural gas prices fell below $4 per MMBtu due to above-average temperatures across the US, leading to reduced heating demand.
• Record production levels and ample storage supplies also contributed to the bearish movement in prices.
• Despite robust US LNG exports, the market sentiment was weighed down by the combination of weather forecasts and high production levels.
• The downward trend in natural gas prices is likely to continue until there is a significant shift in demand or supply dynamics.

26.11.2025 - GAS Commodity was down 5.3%

• Natural gas experienced a bearish movement today, with a significant 5.01% decrease in price to 4.1871 USD/MMBtu.
• Despite a recent rebound from a seven-week low, the market sentiment turned bearish possibly due to concerns over warmer winter temperatures potentially reducing domestic natural gas and electricity demand.
• The near-record LNG export flows and high production levels might have contributed to the initial price increase, but the market sentiment shifted as investors weighed the impact of weather conditions on demand.
• The overall outlook for natural gas remains uncertain, with a delicate balance between supply, demand, and external factors shaping the market movement.

09.11.2025 - GAS Commodity was down 5.6%

• Natural gas prices decreased by 5% to around $4.67/MMBtu as milder weather forecasts through December 23rd reduced demand pressure.
• Prices remain close to three-year highs, up approximately 70% since mid-October, supported by strong export demand and cold weather across the US.
• The decision by European countries to phase out Russian LNG by 2027 has influenced the market, contributing to the ongoing avoidance of Russian gas and boosting demand for US LNG exports.
• Robust production levels and ample storage in the US, along with near-record output and larger-than-normal inventories, continue to weigh on natural gas prices despite the seasonal increase in demand.

09.11.2025 - GAS Commodity was down 5.1%

• Natural gas prices dropped significantly to around $4.80/MMBtu, influenced by factors such as milder weather forecasts reducing demand and near-record production levels.
• Ample storage levels also contributed to the bearish movement, along with profit-taking behavior and higher-than-expected storage data.
• Despite reaching three-year highs recently, the market saw a pullback due to these factors, despite strong export demand and cold weather supporting prices.
• The decision by European countries to phase out Russian LNG by 2027 has impacted global dynamics, affecting US producers' export opportunities.

29.11.2025 - GAS Commodity was up 5.2%

• Natural gas futures rose due to forecasts of colder weather across the US, increasing demand for gas-intensive heating and driving utilities to pile on near-term futures.
• The decrease in natural gas stocks below their five-year average, despite record-high production levels, was a key factor in the bullish movement.
• The rise in LNG export capacity and European sanctions against Russian gas also contributed to the increased demand for US LNG, further supporting the bullish trend.
• The slight decrease in natural gas prices may be attributed to short-term fluctuations or profit-taking after a period of significant gains.