Natural Gas ($GAS) Commodity Forecast: Down 5.1% Today

What is Natural Gas?

Natural Gas is a widely used commodity for heating and power generation purposes. The market for natural gas is influenced by factors such as weather forecasts, production levels, storage withdrawals, and export volumes.

Why is Natural Gas going down?

GAS commodity is down 5.1% on Feb 23, 2026 15:52

• Natural gas prices experienced a bearish movement due to:
• Mild weather forecasts across the US reducing heating demand.
• Rising production levels reaching near-record highs, easing market tightness.
• Smaller than normal storage withdrawals contributing to the market's softness.
• Despite a temporary rise driven by a winter storm and increased short-term heating demand, the overall trend remains bearish due to the abundance of supply and mild weather conditions expected in the near future.
• Traders are closely monitoring storm developments, LNG export volumes, and production trends to gauge the market's future direction, but the current outlook suggests continued pressure on natural gas prices.

GAS Price Chart

GAS Technical Analysis

GAS News

US Natgas Prices Extend Rise on Winter Storm

US natural gas futures rose more than 4% to around $3.17 per MMBtu, extending gains from the previous session, as cold weather forecasts for the Northeast increased short-term heating demand. A powerful winter storm has disrupted flights and closed schools, boosting near-term consumption for both heating and power generation. At the same time, pipeline flows to US LNG export plants climbed to 20.2 bcfd, roughly 24% higher than a year ago and near all-time highs, supporting the market amid ongoing tight supply conditions. Despite the intraday gains, traders remain cautious as warmer-than-normal temperatures are expected across most of the country over the next two weeks, while US natural gas production reached a record earlier this month, which could cap prices in the near term. Traders are now focused on storm developments, LNG export volumes, and production trends.

US Natgas Prices Hold at Around 4-Month Low

US natural gas futures held around $3.0 per MMBtu, near a four-month low, as rising output and smaller than normal storage withdrawals eased tightness in the market. Average production in the Lower 48 states climbed to 108.7 billion cubic feet per day so far in February, up from 106.3 bcfd in January, approaching December’s record of 109.7 bcfd. The US Energy Information Administration reported a 144 bcf withdrawal for the week ended February 13, slightly below the five-year average and last year’s 182 bcf. Stocks remain about 6% below normal but analysts expect most of the deficit to be erased by early March as mild weather keeps heating demand low. Average flows to eight US LNG export plants rose to 18.6 bcfd in February, near December’s record, while forecasts show temperatures will stay mostly warmer than normal through early March.

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Natural Gas Price History

04.01.2026 - GAS Commodity was up 5.3%

• The bullish movement in Natural Gas prices today can be attributed to the strong demand for liquefied natural gas (LNG) exports, with flows to export plants increasing and prices rising despite milder weather forecasts.
• The recent volatility in Natural Gas prices, including significant drops and rebounds, is a reflection of the market's sensitivity to weather forecasts and demand expectations.
• The impact of warmer weather outlooks on curbing heating demand, coupled with the ongoing strength in LNG export flows, has created a dynamic pricing environment for Natural Gas futures.

03.01.2026 - GAS Commodity was down 12.3%

• Natural gas futures experienced a bearish movement due to warmer weather forecasts across the US, leading to reduced heating demand and lower consumption expectations.
• The recent collapse in prices was triggered by milder temperatures replacing the extreme cold snap, allowing for a quick rebound in gas output as frozen wells thawed.
• Despite the price decline, LNG export flows remained strong, limiting the extent of the fall in prices despite the improved supply situation.
• The market's volatility was evident in recent weeks, with prices surging to multi-year highs before the shift in weather forecasts and the return of production from frozen wells contributed to the significant drop in prices.

23.01.2026 - GAS Commodity was down 5.1%

• Natural gas prices experienced a bearish movement due to:
• Mild weather forecasts across the US reducing heating demand.
• Rising production levels reaching near-record highs, easing market tightness.
• Smaller than normal storage withdrawals contributing to the market's softness.
• Despite a temporary rise driven by a winter storm and increased short-term heating demand, the overall trend remains bearish due to the abundance of supply and mild weather conditions expected in the near future.
• Traders are closely monitoring storm developments, LNG export volumes, and production trends to gauge the market's future direction, but the current outlook suggests continued pressure on natural gas prices.

05.01.2026 - GAS Commodity was up 5.6%

• The bullish movement in Natural Gas prices today can be attributed to:
• Traders awaiting the weekly storage data and expecting heavy withdrawals during the recent Arctic blast to tighten supply.
• Strong LNG demand, with gas flows to US export plants remaining high, reflecting robust global demand for US gas.
• Weather forecasts indicating colder temperatures in the Northeast, maintaining demand for heating.
• The recent bearish market movements were caused by:
• Warmer weather outlooks reducing heating demand and curbing power generation needs.
• Forecasts of milder conditions across the US, leading to a decrease in natural gas consumption.
• The volatility in Natural Gas prices can be seen as a result of conflicting weather forecasts, supply disruptions, and fluctuations in LNG export flows, creating uncertainty in the market.
• Overall, the market movement of Natural Gas today reflects the delicate balance between supply, demand, and weather conditions, showcasing the commodity's sensitivity to external factors.

06.01.2026 - GAS Commodity was up 5.4%

• Natural Gas prices surged due to a combination of factors:
• A smaller-than-expected storage draw eased concerns of tight supply, leading to increased confidence in the market.
• Strong LNG demand and higher flows to export terminals supported prices, indicating robust global demand for US gas.
• Warmer weather forecasts reduced heating demand concerns, balancing out the market dynamics.
• The recent cold snap likely resulted in heavy storage withdrawals, shifting inventories from above seasonal norms to slightly below average, further tightening supply.

28.00.2026 - GAS Commodity was down 7.2%

• Natural gas futures experienced a bearish movement due to warmer weather forecasts and the return of some frozen wells, easing supply concerns.
• The unexpected rally in prices over the previous sessions led traders to take profits despite ongoing weather-driven supply disruptions, causing a significant pullback in prices.
• The increase in output in the Lower 48 and the recovery of LNG feedgas flows contributed to the market movement, indicating improving supply conditions.
• Despite the price decrease, freezing temperatures across the US continue to impact natural gas production and supply, highlighting the ongoing supply risks in the market.

30.00.2026 - GAS Commodity was up 14.1%

• Natural gas prices surged by 5.04% to $3.92 per MMBtu, driven by a combination of factors:
• 1. Increased flows to LNG export plants, including the return of a liquefaction train at Freeport LNG in Texas, boosting demand and tightening market conditions.
• 2. Despite forecasts for milder weather and lower heating demand, colder than normal conditions expected through mid-February supported consumption expectations.
• 3. The market reacted positively to a larger than expected storage draw, stronger demand outlook, and recovering production levels, highlighting the ongoing tightness in supply despite the rebound in output from frozen wells.
• 4. The volatility in price action was influenced by mixed weather forecasts and the market's sensitivity following a historic weather-driven rally, keeping traders on edge and contributing to the bullish movement in natural gas prices.

30.00.2026 - GAS Commodity was up 5.1%

• The bullish movement in Natural Gas prices was primarily driven by a larger than expected storage draw and a stronger demand outlook, fueled by an Arctic blast that boosted heating demand.
• Colder than normal weather forecasts through mid-February supported consumption expectations, despite some fluctuations in temperature predictions causing uncertainty in demand.
• The return of some frozen wells and the gradual recovery of gas production after storm-related disruptions contributed to easing supply concerns, leading to a slight pullback in prices on days with warmer weather forecasts.
• The market's sensitivity post a historic weather-driven rally, coupled with the tight market conditions despite the modest rebound in supply, kept price action volatile, with traders closely monitoring weather patterns and production levels for further price movements.

02.01.2026 - GAS Commodity was down 6.6%

• Natural gas prices plunged due to forecasts of milder weather conditions across the US, dampening heating demand and leading to a 14.7% drop to $3.70 per MMBtu.
• The bearish movement was further influenced by the expectation of above-seasonal temperatures, which reduced the need for natural gas as a heating source.
• Despite the recent price drop, the market had been experiencing volatility with conflicting weather forecasts, strong government storage figures, and fluctuations in LNG export flows impacting prices.
• The market movement showcases how sensitive natural gas prices are to weather forecasts and demand outlook, highlighting the importance of monitoring these factors for trading decisions.

02.01.2026 - GAS Commodity was down 13.4%

• Natural gas futures faced downward pressure due to forecasts of milder weather conditions across the US, resulting in decreased heating demand.
• Anticipated above-normal temperatures are projected to lower the necessity for natural gas in residential heating and power production.
• Despite the market's bearish trend, tight conditions persist as gas flows to LNG export facilities increase and companies import gas to capitalize on higher prices, highlighting ongoing market challenges amidst recovering production levels.

18.01.2026 - GAS Commodity was down 5.0%

• US natural gas futures experienced a bearish movement due to warmer weather forecasts and rising production, which weighed on prices.
• Despite strong LNG export demand and continued heavy storage withdrawals, the market was influenced by above-normal temperatures across the US, reducing heating demand.
• The record storage withdrawals during the Arctic blast in late January pushed inventories below seasonal norms, but analysts expect the deficit to narrow with mild weather in the coming weeks.
• The overall market sentiment for natural gas was bearish today, as weather forecasts pointed to warmer conditions, potentially easing demand and limiting price gains.

12.01.2026 - GAS Commodity was up 5.5%

• Natural gas futures rose due to near-record LNG export flows boosting demand, despite warmer weather forecasts reducing heating demand.
• The recent increase in drilling activity in the Haynesville Shale raised concerns about future supply, contributing to the downward pressure on prices.
• Colder weather in the US Northeast and higher flows to LNG terminals supported prices, aligning with increased natural gas benchmarks in Europe and Asia due to cold weather, driving US gas consumers to compete with higher overseas demand.
• Despite the overall bullish movement, the market remains volatile, with prices fluctuating due to factors like weather patterns, production levels, and export demands.