Natural Gas Eases on Milder Weather Forecasts for Late January

Storage Cushion

EIA data confirms that US storage levels remain comfortably above the five-year average. With production from the Permian and Appalachian basins continuing at record rates, the market is finding little reason to sustain prices above $4.00 without a severe Arctic blast.

LNG Export Floor

Despite the drop in prompt futures, the long-term floor remains high due to record LNG export capacity. As new terminals come online in 2026, the structural pull for US gas from European and Asian markets will keep a lid on the kind of price collapses seen in previous years.