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Natural Gas Prices Moderate as Milder Winter Forecasts Limit Heating Draws

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Published: January 19, 2026

Storage Satiation

The market is currently awash in supply. With domestic production hitting records and storage levels comfortable, the market is finding little reason to hold onto the winter price premium.

LNG Export Momentum

The only major support factor is record LNG feedgas demand. However, the 'LNG wave' is viewed as a long-term stabilizer rather than an immediate driver during a mild winter scenario.