US Natgas Prices Top $6.6/MMBtu
2026-01-26 14:57
By
Agna Gabriel
1 min. read
US natural gas futures climbed to above $6.6 per MMBtu, the highest level since December 2022, bringing gains to more than 90% since last week as extreme cold tightened supply while boosting demand.
Freezing weather knocked out close to 10% of US gas production while sharply lifting heating and power demand.
Average output in the Lower 48 fell to about 106.9 bcfd so far in January from a record 109.7 bcfd in December, with daily production dropping to a two-year low near 92.6 bcfd on Sunday.
Wells in Texas and Louisiana were heavily affected, cutting output by more than 17 bcfd from mid January highs.
The storm also strained power grids and disrupted transport, while gas flows to US LNG export plants fell to the lowest level in a year.
Markets are now focused on how long production disruptions will last, with prolonged outages risking further upside.