Natural Gas Prices Moderate as Milder Weather Forecasts Limit Storage Draws

Storage Reality Check

Despite the massive 242 Bcf withdrawal last week, US storage levels remain healthy relative to historical averages. With peak winter demand potentially behind us, the market is quickly shedding its weather-driven risk premium.

LNG Export Momentum

Structural demand from LNG export terminals remains the primary support factor. As new capacity comes online later in 2026, the US will solidify its position as the top global exporter, keeping a floor under Henry Hub prices.