Natural Gas ($GAS) Commodity Forecast: Down 5.3% Today

What is Natural Gas?

Natural Gas is a vital commodity used for heating and electricity generation, with its prices highly influenced by weather forecasts and supply-demand dynamics.

Why is Natural Gas going down?

GAS commodity is down 5.3% on Jan 23, 2026 14:45

• The bearish movement in Natural Gas prices today can be attributed to profit-taking and traders reassessing their positions after a historic rally driven by extreme weather conditions and supply risks:
• Prices surged to record levels due to forecasts of a severe winter storm and below-normal temperatures, leading to increased heating demand and concerns about production disruptions.
• Despite a significant drawdown in inventories and production declines linked to freeze-offs, the market experienced a pullback as traders adjusted their positions ahead of the anticipated cold snap.
• The sharp increase in prices over the past week, with gains of over 65%, prompted some investors to take profits, causing a temporary retreat in prices despite the ongoing weather-related bullish sentiment.
• Natural Gas prices hitting a 3-year high and experiencing substantial gains in a short period reflect the market's sensitivity to weather forecasts and supply risks, highlighting the volatility and speculative nature of the commodity market.

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US Natgas Prices Extend Record Rally

US natural gas futures rose above $5.15 per MMBtu on Friday, recovering from an earlier drop of more than 3%, as the market continued to brace for a historic winter storm. Prices are on track for their largest weekly gain on record, up more than 65% since the start of the week, driven by forecasts for widespread below-normal temperatures across most of the country. The severe freeze, especially in southern gas-producing regions, has raised concerns about ice forming in pipelines, which could disrupt production and exports. Storage data showed inventories fell 120 billion cubic feet to 3.065 trillion cubic feet last week, a larger draw than expected but still leaving stockpiles about 6.1% above the five-year average. Analysts expect the next report to show an even larger withdrawal as frigid conditions boost heating demand and increase pressure on available supply.

US Natgas Prices Pull Back, Still Set for Historic Week

US natural gas futures fell more than 3% to $4.82 per MMBtu, pulling back after a record-breaking three-day rally that saw prices surge about 63%, as traders reassessed positioning ahead of a historic winter storm. Prices remained on track for their largest weekly gain on record, up more than 55% based on data going back to 1990. Forecasts for widespread below-normal temperatures across most of the US are expected to sharply lift heating demand and accelerate storage withdrawals. The developing freeze, particularly across southern gas-producing regions, has raised concerns that ice could form inside pipelines, disrupting production and exports. The latest storage report showed inventories fell by 120 billion cubic feet to 3.065 trillion cubic feet, a larger draw than estimates but still below the five year average, leaving stockpiles 6.1% above normal. Analysts expect the next report to show a far larger withdrawal as the cold intensifies.

Deep Freeze Drives Historic Surge in US Natgas Prices

US natural gas futures surged past $5.3 per MMBtu, approaching levels last seen in December 2022, as extreme cold forecasts boosted demand expectations and raised supply risks. Temperatures are projected to remain mostly below normal through February 5, with the coldest period expected around January 24 to 27. Average US temperatures are forecast near 21.8 degrees Fahrenheit on January 24 and to stay in the low 20s through January 26, driving heating demand toward near record levels. A severe winter storm is expected to affect roughly two-thirds of the country, increasing residential and commercial consumption and raising the risk of inventory drawdowns. At the same time, output is around a three-month low, with part of this week’s production decline linked to freeze-offs, particularly in southern regions. US natural gas futures are on track for a weekly gain of more than 70%, the largest increase in records dating back to 1990.

Natural gas Hits 3-year High

Natural gas increased to 5.50 USD/MMBtu, the highest since December 2022. Over the past 4 weeks, Natural gas gained 40.76%, and in the last 12 months, it increased 39.01%.

US Natgas Prices Rally Continues

US natural gas futures rose more than 20% to $4.7 per MMBtu on Wednesday, extending gains of about 26% earlier in the week, as weather forecasts shifted sharply colder. Forecasts over the long US holiday weekend turned much colder, calling for a deep and widespread Arctic freeze across much of the country in the weeks ahead. Average temperatures are expected to run at least 8°F below normal across the Midwest, Mid Atlantic and parts of New England, with subfreezing conditions spreading deep into Texas and across the South, alongside risks of ice storms and heavy snow. The colder outlook points to sustained heating demand and rising risks of production losses from freeze offs, potentially erasing the recent storage surplus. Up to 10 billion cubic feet per day of freeze offs are possible in Appalachia, with additional risks in the Permian and Haynesville basins. Gas flows have also been diverted from LNG export facilities to meet domestic demand.

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Natural Gas Price History

08.00.2026 - GAS Commodity was down 5.3%

• Natural gas prices decreased due to warmer temperature forecasts affecting heating demand.
• Increased output and higher-than-expected storage withdrawals further contributed to the price decline.
• Geopolitical tensions, such as events in Venezuela and their impact on LNG trade routes, added to market uncertainties and pushed natural gas prices lower.
• Although there were occasional price rebounds, the overall trend for natural gas remains bearish, with prices hitting multi-week lows amid supply concerns and subdued demand.

22.00.2026 - GAS Commodity was up 19.5%

• Natural gas prices surged to multi-year highs due to colder weather forecasts across the US, leading to increased heating demand and potential production losses from freeze offs.
• The Arctic freeze across much of the country, with temperatures expected to run well below normal, has heightened concerns about supply disruptions and storage surplus erasure.
• The redirection of gas flows from LNG export facilities to meet domestic demand further tightened the market, contributing to the bullish momentum in natural gas prices.
• The sustained rally in natural gas prices is a reflection of the market's response to the extreme weather conditions and the potential impact on supply chains and energy infrastructure.

22.00.2026 - GAS Commodity was up 15.6%

• Natural Gas prices surged to historic levels as extreme cold forecasts in the US boosted heating demand expectations and raised supply risks due to potential freeze-offs, leading to a significant increase in prices.
• The deep freeze across two-thirds of the country, with temperatures expected to remain well below normal, is driving residential and commercial consumption to near record levels, further supporting the bullish momentum in Natural Gas prices.
• The sustained rally in Natural Gas prices is also fueled by concerns of production losses from freeze-offs in key regions like Appalachia, Permian, and Haynesville basins, along with the diversion of gas flows from LNG export facilities to meet domestic demand, highlighting the tight supply-demand balance in the market.
• Overall, the surge in Natural Gas prices to multi-year highs is a result of a perfect storm of extreme weather conditions, increased heating demand, potential supply disruptions, and the market's reaction to these factors, creating a bullish sentiment among traders and investors.

23.00.2026 - GAS Commodity was down 6.7%

• Natural gas prices experienced a strong bearish movement today, pulling back after a historic surge over the past few days.
• The pullback can be attributed to traders reassessing their positions amidst a record-breaking rally and the potential impact of a developing winter storm on production and exports.
• Despite the pullback, the market remains volatile due to forecasts of below-normal temperatures and increased heating demand, which could lead to further price fluctuations in the coming days.
• The recent surge in natural gas prices to multi-year highs reflects the market's sensitivity to weather patterns and supply risks, highlighting the importance of monitoring weather forecasts and production levels for trading decisions.

12.00.2026 - GAS Commodity was up 5.1%

• Natural gas prices surged by over 5% to $3.3277/MMBtu, driven by new weather forecasts indicating colder conditions across the US, increasing heating demand.
• Despite a recent dip in US gas production and a larger-than-usual drop in supplies, exports of natural gas remain strong, supporting prices.
• The rebound in natural gas prices from a 10-week low was also fueled by a decrease in production levels and forecasts of cooler weather, outweighing concerns of mild temperatures in the short term.
• The overall bullish movement in natural gas prices reflects a delicate balance between supply, demand, and weather patterns, showcasing the commodity's sensitivity to external factors.

23.00.2026 - GAS Commodity was down 5.3%

• The bearish movement in Natural Gas prices today can be attributed to profit-taking and traders reassessing their positions after a historic rally driven by extreme weather conditions and supply risks:
• Prices surged to record levels due to forecasts of a severe winter storm and below-normal temperatures, leading to increased heating demand and concerns about production disruptions.
• Despite a significant drawdown in inventories and production declines linked to freeze-offs, the market experienced a pullback as traders adjusted their positions ahead of the anticipated cold snap.
• The sharp increase in prices over the past week, with gains of over 65%, prompted some investors to take profits, causing a temporary retreat in prices despite the ongoing weather-related bullish sentiment.
• Natural Gas prices hitting a 3-year high and experiencing substantial gains in a short period reflect the market's sensitivity to weather forecasts and supply risks, highlighting the volatility and speculative nature of the commodity market.

20.00.2026 - GAS Commodity was up 5.2%

• Natural gas futures surged over 5% to $3.8 per MMBtu, reaching a three-week high, driven by sharply colder weather forecasts and an expanding polar vortex leading to extreme Arctic cold alerts.
• The shift towards much colder scenarios and expectations of increased heating demand and power generation needs in the US boosted prices, despite elevated production levels and modestly lower LNG export flows.
• The uncertainty over reduced gas flows to LNG export facilities, particularly Freeport LNG in Texas, initially weighed on prices, but signs of recovery in deliveries alleviated some pressure.
• The combination of colder weather outlooks, rising domestic consumption expectations, and potential spot LNG purchases in Asia supported the bullish movement in Natural Gas prices today.

21.00.2026 - GAS Commodity was up 17.5%

• Natural gas prices surged to a 5-week high of $4.32 USD/MMBtu, driven by sharply colder weather forecasts and an expanding polar vortex leading to extreme Arctic cold conditions in the US.
• The bullish movement was further supported by expectations of strong heating demand and higher power generation needs due to the colder-than-normal outlook, prompting grid operators to alert utilities to brace for increased consumption.
• Despite elevated production levels and modestly lower LNG export flows, the combination of rising domestic consumption expectations and potential spot LNG purchases in Asia due to the cold snap supported the global natural gas demand, contributing to the price gains.
• The market movement was also influenced by storage data showing a smaller withdrawal than expected, signaling looser supply-demand conditions, along with fluctuations in LNG export flows and production levels, which added pressure but were offset by recovering LNG feedgas flows.

21.00.2026 - GAS Commodity was up 29.2%

• Natural Gas prices surged over 20% to $4.7 per MMBtu as weather forecasts turned much colder, leading to increased heating demand and potential production losses from freeze offs.
• The colder outlook, with temperatures expected to run significantly below normal across various regions, fueled the rally as traders anticipated a reduction in the storage surplus and potential freeze offs in key production areas.
• The shift towards much colder scenarios, driven by the expansion of the polar vortex, heightened concerns of extreme Arctic cold and winter storms, further supporting the bullish momentum in Natural Gas prices.
• With elevated production levels and modestly lower LNG export flows, the market focused on the increased domestic demand expectations and alerts from grid operators, underpinning the price gains and potentially prompting additional spot LNG purchases globally.

14.00.2026 - GAS Commodity was down 5.9%

• Natural gas prices experienced a bearish movement today, declining to $3.33/MMBtu.
• The decrease can be attributed to the easing of production levels in the Lower 48 states and the slightly reduced cold weather forecasts.
• Despite the drop, LNG exports remain at record levels, indicating strong overseas demand for natural gas.
• The market movement suggests that while near-term demand may be impacted by production adjustments and weather forecasts, the overall outlook for natural gas remains supported by robust export demand.

14.00.2026 - GAS Commodity was down 6.3%

• The bearish movement in Natural Gas prices can be attributed to uncertainty over reduced gas flows to LNG export facilities, particularly the drop in gas intake at a facility in Texas.
• Despite colder-than-normal weather forecasts supporting heating demand, the decline in prices was driven by lower demand from LNG facilities and slightly eased domestic production levels.
• The steady export demand and record LNG shipments have provided some support to prices, but the overall market sentiment was impacted by the reduced gas flows and lower demand from certain facilities.
• The rebound in prices on Monday was fueled by new weather forecasts showing colder conditions developing across the US, indicating increased heating needs in the near future. However, the market remains sensitive to supply and demand dynamics, as well as export levels.

09.00.2026 - GAS Commodity was down 5.1%

• The natural gas prices showed a bearish trend today, decreasing by over 3%.
• The decline in prices is linked to forecasts of mild weather in the upcoming two weeks, which is expected to reduce heating demand.
• Anticipated warmth across the US is projected to lower the immediate need for natural gas, leading to a downward price trend.
• The market is closely monitoring the broader energy-market consequences following the recent US attack on Venezuela. Potential disruptions in LNG trade routes could impact the natural gas markets in the future.