US Natgas Prices Halt Historic Rally

2026-01-27 10:31 By Agna Gabriel 1 min. read

US natural gas futures fell more than 10% to below $6.1 per million British thermal units after surging by an unprecedented roughly 117% over the previous five sessions, as traders took profits despite ongoing weather driven supply disruptions.

Freezing temperatures continue to sweep across large parts of the US, lifting heating and power demand and straining electricity grids.

The winter storm knocked out about 12% of US natural gas production, limiting supplies to power plants and households.

Average output in the Lower 48 has fallen to around 106.9 bcfd so far in January from a record 109.7 bcfd in December.

Gas flows to US LNG export plants dropped to the lowest level in a year.

PJM Interconnection declared a level one emergency, requiring all power plants to be ready to operate at full capacity, and authorities allowed power to be diverted from large industrial users to protect households and hospitals, highlighting that supply risks remain elevated despite the price pullback.



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