Natural Gas Prices Rebound Toward Four Dollars as Winter Draws Begin

The LNG Export Floor

US LNG exports have climbed to nearly 15 billion cubic feet per day, a record that is effectively removing a large portion of domestic supply from the local grid. This structural demand has provided a firm floor for Henry Hub prices, preventing the deep collapses seen in earlier decades when domestic supply gluts were common.

Weather and Storage Dynamics

Recent storage data shows withdrawals have begun in earnest, though levels remain slightly above seasonal averages. Traders are watching late-winter weather models closely; while early 2026 is forecast to be mild, any sudden Arctic blast could quickly deplete the current inventory cushion and trigger high volatility in the spot market.