Natural Gas Eases on Milder Weather Forecasts for Early 2026

Supply Resilience

US natural gas production has hit record levels, providing a massive cushion for the winter season. With the Henry Hub price sensitive to weather models, the current forecast for a warmer January has effectively capped the year-end rally.

LNG Export Dominance

Despite short-term weather fluctuations, the structural floor for natural gas is being lifted by a new wave of LNG export terminals. US exports are projected to be the primary balancing force for global markets, maintaining a long-term target of $4.00.